Fincantieri Posts $246M Loss

Fincantieri posted a nine-month 1999 operating loss of $246 million. The company, on the government's privatization list, reported that the loss was due to continuing merchant shipping industrial problems and the evaluation of risks linked to existing orders given current market conditions. Fincantieri, a world leader in the construction of large cruise ships, posted record 1998 losses of $160 million.