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Ta Chen Group Invests in Aluminum Plant in Texas
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2023-12-18
Ta Chen Group (Taiwan) said carbon steel price has been going up lately, and stainless steel may follow suit, but it will be until January 2024 before the situation turns clear. What is certain is that business performance will be better in H1 than in H2 2024.
Ta Chen Group is continuing on expanding its aluminum plant in Texas. The group acquired the Texas plant from Alcoa for USD 350 million in October 2018, invested USD 260 million in July 2021 to increase the plant's capacity and add the second cold-rolling line. The cold-rolling line expansion was completed at the end of 2023 with a capacity up from 18 thousand to 31 thousand tons. Further, the group previously announced another investment in building a hot-rolling line for USD 131 million which was completed in 3 years expanding from 13 thousand to 31 thousand tons in capacity.
The group's subsidiary Brighton-Best International (BBI) sells carbon, steel, stainless steel and alloy steel fasteners which altogether share 60% of the U.S. market. Its revenue per day slipped 10% in 2023 from USD 3 million to somewhere between 2.6 to 2.7 million. STAR which is the second largest local counterpart with USD 70 thousand daily revenue is currently held by a private equity firm. The private equity firm has less than 7 years to handle STAR and it will make for an opportunity for BBI to acquire STAR and increase gross profit margin by 3 to 5 percentage points from 35%.
大成鋼
德州
美鋁
併購
大國鋼
Ta Chen
Texas
alcoa
acquisition
Brighton-Best International
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