Jiangsu Province-based Chinese stainless steel producer Haian Far East New Material sold 60,000 mt of stainless steel sheet and strip in the January-October period of the current year, achieving a sales revenue of RMB 600 million ($97.7 million), according to company vice president Mei Zhoujin, as reported by Xinhua News Agency. It is expected that the company will achieve a sales revenue of RMB 700 million ($114.0 million) for the whole of 2014. According to Mr. Mei, the company's first stainless steel sheet production line went into operation in September 2013, with an annual capacity of 130,000 mt, constituting the first phase of an overall project with an annual production capacity of 600,000 mt stainless steel sheet and strip.
In 2015, the company will launch another stainless steel production line, which will add an additional 200,000 mt capacity, with the first two production lines having an aggregate annual capacity of 330,000 mt stainless steel sheet and strip.