SPARTANBURG, S.C., Dec. 17, 2013 (GLOBE NEWSWIRE) -- Synalloy Corporation (Nasdaq:SYNL), a holding Company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that the Company is now projecting a loss on an adjusted net earnings basis for the fourth quarter of this year. During October and November, the Company's BristolFab unit experienced a pre-tax loss of $1.4 million. The loss occurred as we increased the number of production workers from 70 in September to approximately 140 in the past two months in response to a surge in our backlog, with resulting labor efficiencies falling well below profitable levels. We expect to see this continue into December.
Synalloy Updates Fourth Quarter Outlook
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