Strong Growth for Tycoons Steel

Major wire manufacturers Tycoons and Quintain Steel are both expected to increase their production. For Tycoons based in Thailand, its electrical furnaces will be available for mass production in Q1 2014; while for Quintain Steel, its 2nd phase of facility expansion is also about to be started. Accordingly, their production and sales will grow further.

 

The legal person says that Tycoons invested NTD3 billion in its Thailand-based electrical furnace steel refining plant with the annual production of 0.7 million tons, in order to supply Tycoons in Thailand. Part of the production will be sold to domestic Thailand and Southeast Asia. According to a plan, wires and coils will be refined in Vietnam and be re-exported again, which helps it fully grasp with the business opportunities within ASEAN. As the electrical furnaces of Tycoons can be used to refine alloy steel and steel bars, its product lines can be very flexible based on the current ones for wire and fasteners, thus consolidating its presence in the market. After the electrical furnaces are put to use, the gross profit can be effectively increased.

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