Sahaviriya Steel Industries (SSI), Asean's largest integrated steelmaker, expects slab output at its Teesside plant in England this year to nearly double, requiring new clients to absorb the surplus.
The Teesside acquisition from three years ago has consistently recorded losses for the SET-listed steelmaker, including a net loss of 15.9 billion baht for SSI last year, a sharp drop from a loss of 981 million in 2011, even though its revenue rose by 20% to 60.6 billion from 2011. Losses of 14.19 billion baht were attributed to SSI's iron and steel business in the UK.
This year, it expects total output from its UK plant to reach 3.2 million tonnes, up from 1.76 million last year from April.
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