ECONOMY

Back in the black after 11 years

Greece’s largest steel mill, Halyvourgiki, of the Angelopoulos group, announced yesterday its return to profitability after 11 years in 2003, posting earnings of 1.92 million euros on sales of 74.8 million euros. The firm has just completed a 150-million-euro investment in a Danieli-supplied minimill in its Elefsina plant which has a production capacity of 500,000 tons of iron bars for reinforced concrete. The investment, largely financed by Piraeus Bank, is one of the biggest implemented in Greek industry in recent years and the mill is considered one of the four most modern worldwide.