Client News
Global Steel Philippines set to export production to EU and US markets
May 30, 2006
Re-commissioned hot strip mill with 1.2 million ton production capacity to supply requirements of leading trading firms in US and Europe
(Manila, Philippines) — Global Steel Philippines — the Philippines’ largest steel manufacturer and exporter of cold rolled coils (CRC) — announced that the company is set to export Hot Rolled Coils (HRC) to the EU and US.
According to Global Steel officials, the company is in talks with EU and US trading houses and end-user companies for the export of high volumes of HRC. The companies involved in the talks include Toyota Tsusho, CMC (International) A.G., Sumitomo and Marcegagila, among others. Global Steel has already exported over 115,000 MT of CRC to Turkey, China, Vietnam, Malaysia and other Asian markets, and produced 65,000 MT for the domestic market between January 2004 and April 2005.
In March, Global Steel successfully re-commissioned its hot strip mill with a production capacity of 1.2 million tons of hot rolled coils (HRC) per annum. The mill converts steel slabs to HRC and then to CRC. According to Global Steel chief operating officer B.S. Mohnani, “We are in the process of concluding sales agreements. When exports begin, it will be the first time after restart of the plant by Global Steel that the Philippines will export HRC to the EU and US.”
###
About Global Steel Philippines (SPV-AMC) Inc.
Global Steel Philippines, Inc. (GSPI) is the Philippines’ largest steel manufacturer. It exports 70 percent of its production primarily to other Asian nations. Over 1,200 skilled committed Filipino workers are employed by the company in Iligan City where its manufacturing plant is located. They are proud to play an important role in the development of the Philippine economy. GSPI is a subsidiary of Global Steel Holdings Limited (GSHL), which has operations in Bosnia, Bulgaria, Libya, Nigeria, India, and the Philippines. Worldwide, GSHL operates and manages over 12 million tons per annum of steel production capacity.