Acindar’s Net Rises

Argentine steelmaker Acindar posted a $53 million net profit for the first quarter, up 17% year-on-year. Sales rose 36% to $198 million. Acindar exports about 25% of its steel production. Brazil’s Companhia Siderúrgica Belgo-Mineira took control of Acindar last year after recapitalizing the company.