Tokyo Rope Mfg. to Expand Offshore Operations

Tokyo Rope Mfg. doubles steel code output at plant in Changzhou to monthly 3,000 tonnes. The firm also increases the interest from 30% to 34%in in joint venture to make bridge wire products in Jiangsu. The firm expands the elevator rope output to monthly 500 tonnes by fiscal 2010 from planned 200 tonnes in fiscal 2008. The firm seeks another growth through the expansion of offshore operations. The firm tries to increase the profit of steel code business by 1.2 billion yen by fiscal 2009 starting April 2009 through expansion the Chinese operation. The steel code shipment decreased by 10% in the first half year to September from same period of 2006. The firm increases the shipment by 4% in the second half from the first half. The firm also expands the elevator rope sales for high rise building in China to monthly 270-280 tonnes in fiscal 2010 from estimated 200 tonnes in fiscal 2008. The firm tries to secure 50% market share in the high grade products for high rise building.