A. M. Castle (CAS +3.9%) moves higher today after announcing restructuring plans that include an...

|About: A. M. Castle & Co. (CAS)|By:, SA News Editor

A. M. Castle (CAS +3.9%) moves higher today after announcing restructuring plans that include an organizational revamp, workforce cuts of around 10%, warehouse realignments and performance improvement programs. CAS believes the measures should improve annualized operating profit by $33M once fully implemented, and expects to take a pre-tax charge of around $10M in FY13.