Kokomo-based Haynes International Inc. (Nasdaq: HAYN) is reporting a fiscal first quarter net loss of $1.6 million compared to net loss of $22.5 million during the same period the previous year. Chief Executive Officer Michael Shor says recent upgrades will allow the company to increase business.
Haynes manufactures and markets high-performance alloys.
“We have completed the planned outage to rebuild and upgrade one of our three heat treat furnaces in our cold-finishing area. The duration was fifteen weeks, with the upgraded annealing line placed back into service in late January 2019. With this process now behind us, we are pleased to have the ability to pursue incremental high value differentiated cold finished flat business, which primarily serves the aerospace market,” said Shor in a news release.
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