SteelAsia sees sales growing up to 15%
MANILA, Philippines — SteelAsia Manufacturing Corp. expects sales volume to grow by up to 15 percent this year as it expects high demand for its products.
SteelAsia chairman and chief executive officer Benjamin Yao said the company’s sales are expected to reach two million tons this year and grow by around 10 to 15 percent from last year.
Rafael Hidalgo, vice president for business development at SteelAsia, said the same growth may be seen for next year.
Hidalgo said demand for the company’s products is growing by about the same pace. “Demand also grew by the same amount,” he said.
Yao also said SteelAsia does not expect additional capacity in production this year.
“We will have additional capacity in 2020 from Compostela, Cebu,” he said.
Earlier, SteelAsia said it is building a wire rod facility with 800,000 tons capacity in Compostela, Cebu, expected to be completed by next year.
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