Alleghany, Heads & Threads Post 3Q Losses

John Wolz

Alleghany Corporation reported a third quarter 2001 net loss of $36.8 million, compared with earnings of $8.9 million in the same period of 2000.
Alleghany�s fastener importing subsidiary, Heads & Threads International, recorded pre-tax losses of $1.5 million in the 2001 third quarter, compared with pre-tax earnings of $1.6 million in the 2000 third quarter, primarily reflecting a material slowdown in the markets for its products.
In the first nine months of 2001, Alleghany’s net earnings from continuing operations were $431.9 million, compared with $149.1 million in the same period last year. �2001 FastenerNews.com