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Archieve News
 
  7 June 2008 - Stainless Steel Pipe Maker AISB Recovers From With Price Rehearsal
AISB's unit AMALGAMATED INDUSTRIAL STEEL (1987) sb - which posted a LBT of RM240k for 1QFY08, is expected to break even in 2008 riding on the recovery of stainless steel and steel prices as well as demand recovery.

The stainless steel pipes division slipped into the red in 4QFY07 mainly due to the downtrend in global stainless steel price since the second half of 2007. Relative price stability was restored in the first quarter of 2008.

LIM YEW BOON - ED - was quoted saying after the Company AGM on May 29, 2008 - that AISB's carbon steel production capacity was running at more than 50% of its total capacity of 10,000 tonnes per month, which is slightly more than its peers in the same industry.
The steel pipes maker, which has two manufacturing plants in the country, also plans to boost sales volume and optimise existing capacity by partnering other steel players like Singapore
 
 
 
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