Posted on 31 Jan 2012
Millcon Steel Industries Plc, one of Thailand’s leading producers and distributors of steel products and fully integrated steel service center and controlled by a member of the Leeswadtrakul family, will close its acquisition of Thai Special Steel Industry (TSSI) early this year. , raising its turnover by THB 6 to THB 7 billion in 2013.
TSSI's plant in Rayong had annual capacity of 500,000 tons of special grade wire rods, but has stopped operation in 2007 due to lack of cash.
Millcon hopes to spend another 3 to 4 months to save TSSI's plant and restart production in the second half of 2012. Thai's domestic demand for wire rods is expected to be 1.3 million tons per year, of which 800,000 tons are imported.
