Thainox Stainless to increase steel production

Thainox Stainless to increase steel production

Thailand's sole stainless steel producer Thainox Stainless PCL has announced that it is planning to increase its stainless steel production to 300'000 tons in the near future to meet strong demand. The company officials stated that the current target of the company is to increase the production to 200'000 tons. Capacity expansion plan will reportedly begin in November 2004. The company forecasts its sales to reach Baht 15 billion ($362 million) on sales of 170'000 tons of stainless steel products this year against the sales of Baht 13 billion ($313 million) recorded in the previous fiscal year. In the first half of 2004, the company reported a net profit of Baht 1.2 billion ($29 million) against Baht 1 billion ($24 million) recorded in the first half of previous fiscal year.