North America’s largest producer of natural graphite, Stratmin (ME), has reported a 6% increase in sales.
The company sold $12 million worth of graphite in 1993, compared with $11.3 million in 1992.
Moreover, it reduced its net loss by 63%, to $959,000 or 4 cents a share in 1993 from $2.6 million or 11 cents a share in 1992.
The improvements are attributed to greater productivity and decreased operating costs.
Stratmin created a research and development department in the first quarter of 1993 and also began producing high-purity natural and artificial graphite from an industrial pilot plant near Sherbrooke, Que.
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