12/31/2012 1:41:00 AM
NEWS BRIEFS
Tycoons Group Reports Loss on Increased Sales
Taiwan’s Tycoons Group reported an after-tax loss of NTD 275 million (US$9.5 million) for the first three quarters of 2012, hampered by weak market demand, Steel Guru reports.
Company sales during the first 11 months of 2012 grew 7%, boosted by Tycoons’ Thailand subsidiary.
“Currently, Tycoons Thailand mill’s annual output for wire rod is 360,000 tons,” according to Steel Guru. “Once its electric furnace mill starts its official operation, the company will have annual capacity of steel billets of 500,000 tons.”
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