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SeAH Besteel renews monthly high of 40,000 tons in Oct exports

Collected: 2017.11.30

Distributed: 2017.12.01

Source: Go Direct

South Korea’s special steel maker SeAH Besteel Corp. said on Wednesday that it achieved milestone in monthly exports by shipping out 40,000 tons thanks to increased demand from car makers.

The company has turned overseas for revenue due to depressed market at home.

The steel maker has added its sales channel in six countries over the last two years. It has built the North American sales unit SeAH Global Inc. in March last year and offices in Dusseldorf, Germany, and Detroit, the United States. It installed sales staff in India and Thailand.

SeAH Besteel starts mass production of premium steel for bearings upon winning license in Germany and Japan in 2019. It expects exports to increase 120,000 tons from last year to 360,000 ton this year and 400,000 tons in 2018.

Shares of SeAH Besteel Wednesday ended 0.49 percent down at 30,350 won from the previous session.

By Ahn Byung-joon and Lee Ha-yeon

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