VIEILLE MONTAGNE SAYS 1986 CONDITIONS UNFAVOURABLE
A sharp fall in the dollar price of
zinc and the depreciation of the U.S. Currency created
unfavourable economic conditions for Vieille Montagne SA
<VMNB.BR> in 1986.
    It said in a statement that the two factors led to a
squeeze on refining margins and an 18.24 pct fall in sales and
services income despite an unchanged level of activity.
    Vieille Montagne, which is actively pursuing a
restructuring program, reported a 198 mln franc net loss, after
187 mln francs in provisions for the closure of an electrolysis
plant, compared with a 250 mln franc net profit in 1985.
 REUTER
