Management of the South Korean company PohangIronandSteelCompany (one of the world's largest manufacturers of stainless steel) announced plans to increase production at its Thai plant Thainox Stainless Public Company Limited. The program, aimed at meeting the growing demand for stainless steel metal at the plant management POSCO expects to reach an annual production level of 300 thousands. tons. At the moment, for the year Thainox facilities produced about 180 thousand. Tons of stainless steel. The above program is up to 2015.
POSCO now owns a controlling stake Thainox Stainless plant (75%). The main share of assets of the Thai steel plant South Korean Corporation acquired in September of this year — the family Prayudh Mahagitsiri. Prior to that, in the investment portfolio PohangIronandSteelCompany was only 15% of the securities of Thai companies. One of the reasons that propelled the former owner to the decision to sell the plant for the production of stainless steel metal, were the tangible losses of the enterprise. So before the deal (in the second quarter of 2011) Thainox plant, specializing in the production of cold rolled stainless steel coil, sheet metal, strip ferritic and austenitic grades, was a loss of $ 38.9 million. THB.