wiredInUSA October 2018

Steel wire results

SteelAsia Manufacturing Corp reports that its output of steel bars increased 11 percent, year-on-year, to over a million metric tons in the first half of 2018. “We are fortunate to be able to ride on the current infrastructure boom. With sustained economic growth we believe that SteelAsia, along with the whole steel industry, will also continue to grow and serve more customers,” said SteelAsia chairman and CEO Benjamin O Yao in the statement. In the next five years SteelAsia plans to more than double its capacity, through more upstream facilities, and to establish three new integrated steelmaking plants.

plant in Compostela, Cebu, primarily to manufacture wire rods.

“We are deliberately bringing our plants closer to our customers. That way we can giveour customers thebest priceandservice with just-in-time delivery and, at the same time, help create more jobs for our people in the countryside,” Mr Yao said, adding that the company hopes to break ground for two more plants this year, including a wire rod plant with a capacity of 1.2 million tons in Concepcion, Tarlac. SteelAsia estimates local demand for rebars will hit 4.5 million tons by 2021, with demand for wire rods and sections expected to reach about 600,000 tons and 700,000 tons, respectively.

The company currently has six operating plants and is constructing a seventh

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wiredInUSA - October 2018