Three advise Schomlz on capital raise

Swiss speciality steel firm Schmolz + Bickenbach appointed BNP Paribas, Commerzbank and Credit Suisse as financial advisors as it considers carrying out a Sfr300m capital increase. The firm is in the middle of a restructuring and cost-cutting programme but on Wednesday was able to revise upwards its earnings outlook for the year on rising revenues and orders.