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Armco Steel reports 1951 high production and sales records
Armco Steel Corporation announced 1951 production topped four million tons and net sales reached $534.8 million, while taxes reduced earnings to $35.0 million after tax. Earnings per share were $6.69, with 5.21 million shares outstanding. Major expansion continued, adding over $46 million in 1951 and lifting capacity 40 percent since 1945. Net working capital rose to $119.0 million. long-term debt fell to $62.77 million. book value per share was $53.65.
MENTIONED IN THIS ARTICLE
Armco Steel Corporation
Charles R. Hook
Armco
Hook