South Korean steel producer Dongkuk Steel Mill Company had decided to expand its production of high-end color steel capacity entailing an investment of KRW 25 billion and to strengthen its high value-added color steel plate business, a company statement said on Monday, July 13.
According to the company, the new expanded color steel facility will go into production in the second half of 2021, the company said.
The expansion plan includes ramping up color steel production lines from the current 750,000 mt to 850,000 mt per annum capacity, which would make it the world’s largest production line of such products, the company claims.
The company said that for the first time in the world the new color steel plate line will be composed of a wide line (1,600 mm) that combines laminate steel plate and UV coating processes.
Dongkuk Steel Mill is planning to make customized high value-added color steel sheets such as fluorine lamina steel plates and new products via the combination of digital printing and UV coating technology at this line.
The decision is part of the company’s super-gap strategy that further strengthens its color steel plate business and its competitive advantage in production infrastructure, quality, sales power, R&D capabilities and services.
The share of color steel plate sales in Dongkuk Steel Mill's total sales (on an unconsolidated basis) expanded from 11.5 percent in 2012 to 17.6 percent 2019.