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ROUGE STOCK HOLDS POWER: 4TH-QUARTER EARNINGS RISE ABOVE EXPECTATIONS.
Crain's Detroit Business
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February 15, 1999|
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COPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Apparently, better-than-expected earnings overcome even deadly explosions.
On Feb. 1, Rouge Industries Inc. lost power after a fatal blast rocked the nearby power plant at Ford Motor Co.'s Rouge complex, killing two people. Rouge Industries lost power for 10 days, company executives were forced to work off-site, and the company will be unable to make steel for two months.
It could be expected that such an event would shake Rouge (NYSE: ROU) stock. Instead, it finished that week up 25 cents at $11.25, compared with $11 a share the day of the accident.
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