Metals service center Ryerson Inc., Chicago, IL, reported profit of $28.1 million on sales of $1.7 billion in the first quarter 2007, up 21% from the same period last year.
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“‘We were pleased with the progress we made in the first quarter of 2007,” said Neil S. Novich, president and CEO. “In the third quarter of 2006, we put in place new supply chain management and improved inventory processes. We saw the result in the first quarter of 2007 with current value of inventory down $241 million, or 15%, from the end of 2006, and we are on track to attain our goal of five turns by year-end 2007.
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“In mid-2006, we also began a project to address the profitability of five, large underperforming service centers. We …
Ryerson Sales Up 21% in 1Q 2007
Metals service center Ryerson Inc., Chicago, IL, reported profit of $28.1 million on sales of $1.7 billion in the first quarter 2007, up 21% from the same period last year.
  ;
“‘We were pleased with the progress we made in the first quarter of 2007,” said Neil S. Novich, president and CEO. “In the third quarter of 2006, we put in place new supply chain management and improved inventory processes. We saw the result in the first quarter of 2007 with current value of inventory down $241 million, or 15%, from the end of 2006, and we are on track to attain our goal of five turns by year-end 2007.
  ;
“In mid-2006, we also began a project to address the profitability of five, large underperforming service centers. We …
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