G Steel sees bright future

G Steel sees bright future

Thai hot-rolled coil maker G Steel PCL disclosed 2004 profits of THB2.5 billion ($52 million) from more than THB20 billion in sales. G Steel sold 1.3 million mt of product at an average price of THB17'000/mt. The company's outlook for 2005 is extremely positive based on growing steel demand. G Steel expects profits to increase %20 to THB3 billion, without any concession from the profit margin over 10%. The company anticipates that the high demand for steel will continue for the foreseeable future, and therefore plans to invest $350 million to increase its capacity by over 3 million tons per annum by 2008.