Daido Steel to Modernize Chita Continuous Casters

Daido Steel expends around 8 billion yen to optimize upstream operation of the main plant of Chita in Aichi through fiscal 2012 ending March 2013. The firm also expands precision casting lines in China for magnet and in Japan for turbocharger in fiscal 2011.

The firm expects more than 30 billion yen of recurring profit with 460 billion yen of sales for fiscal 2010 thanks to firm automobile demand and machinery demand recovery. The firm increases the capital expenditure in fiscal 2011 from fiscal 2010 while the firm increased the expenditure in fiscal 2010 after saving during financial crisis.

The firm prepares for optimization of upstream operation at Chita plant as the major part of the investment. The firm decided to start the investment in fiscal 2011 to maximize the utilization of the 2 continuous casters to keep the future competitiveness. The firm plans the conversion during major 7-10 days repair in April and October.

The firm modernizes blooming mill in April as a part of the series of streamlining actions. The work is to expand the finishing line to increase the size range. After the conversion, the firm tries to maximize the continuous casters’ capacity.

The firm also expends to expand the precision casting line to 1.5 times at China for magnet and to 2 times at domestic plant for turbocharger. The firm expands the capacity for magnet additionally by fiscal 2014.