Tycoons to Invest NTD 0.9 Billion in Capacity Expansion of Thai Electric Furnaces

For responding to the upcoming demand to its Thai factory and advancing the payoff period of the investment, Tycoons will expand the capacity of its electric furnace plant in Thailand from 0.5 million tons to 0.7 million tons. The company said, through the upgrade of the capacity, not only the investment can be more target oriented, but also the economy of scale can be effectively developed. The capacity expansion will cost the company nearly NTD 0.9 billion of capital expense, making the total investment of its Thai electric furnace plant reach NTD 3 billion. The plant is expected to operate next year.

Tycoons Worldwide Group (Thailand) Public Co., Ltd. specializes in wire rods, wire coils, and fasteners. In order to increase the production efficiency, Tycoons started to produce steel billets in Thailand last year. If the electric furnaces are completely installed, the plant in Thailand will have a full supply chain including steel billet production, wire rod processing, and finished fasteners, which is expected to greatly reduce the production cost.

The current annual capacity of wire coils in Tycoons (Thailand) is 0.36 million tons and the annual demand for steel billets of Tycoons (Thailand) is about 0.36 million tons. If Tycoons (Thailand) adds a new production line in the future, the annual steel billet demand will increase to 0.72 million tons, which can be satisfied by the electric furnace plant. When the capacity is not sufficient, outsourcing will be considered. However, currently the company doe not intend to add one more production line for wire coils. If the electric furnace plant has excessive steel billets, they can be sold to local Thai steel plants for gaining more revenue incomes. The company thinks the capacity expansion of the electric furnace plant to its fullest at one time will make the payoff period shorter.

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