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April 3, 2014
11:31 EDTSCHNSchnitzer Steel expects demand for steel in emerging markets to continue
Says Asia to remain key driver of infrastructure spending, with China the highest contributor. Says productivity initiatives tracking well, and has increased targeted savings to $40M from $30M. Says to date, has achieved $10M in 1H14 savings and expects 70% of overall savings to be met in FY14, with the balance achieved in FY15. Says FY14 CapEx should be about 50% lower than FY13 levels. Comments from slides presentation on Q2 results.
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