|  | 08/07/2004 |
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Sumikin Bussan Corporation Constructs Coil Center in Thailand
Metals Company of Sumikin Bussan Corporation is expanding the overseas processing bases to meet increasing offshore demand under the new 5-year business plan ending March 2009. The unit is going to construct coil center with 2,000-3,000 tonnes per month of processing capacity in Thailand in 2005. The unit is promoting efficient management in Japan through integration of consolidated subsidiary and cost cutting. The firm seeks more steel sources for offshore integrated steel makers and domestic electric furnace steels. The unit targets more than 650 billion yen of annual sales in fiscal 2008 or the final year of the plan.
The units' consolidated sales were 592.8 billion yen including 52.5 billion yen for the overseas sales in fiscal 2003 ended March 2004. The unit announced in May it would increase the sales to 625 billion yen including 80 billion yen for the overseas in fiscal 2008. The unit revised the sales to minimum 650 billion yen with more domestic and offshore sales and increasing steel price.
The firm is planning to expand the existing coil centers in China and US in 1-2 years.
The firm considers purchasing steel from Chinese integrated steel makers along with POSCO of South Korea and China Steel Corporation of Taiwan under tight traditional steel supply with expectation of tighter supply when Sumitomo Metal Industries will idle hot strip mill at Wakayama Steel Works by the end of fiscal 2004.
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 | Sumikin Bussan Corporation Constructs Coil Center in Thailand
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