Tokyo Rope Mfg. Eyes Doubling Chinese Steel Code Capacity

Tokyo Rope Manufacturing announced on Friday the firm studies to double the Chinese steel code output capacity to 36,000 tonnes under the new 3-year plan ending March 2010. The firm tries to expand the offshore operations through 14 billion yen of the capital expenditure. The firm targets more than 80 billion yen of sales and more than 7% of recurring profit on sales for fiscal 2009 ending March 2010. The firm tries to realize the target by expanding the sales of steel wire rope for major projects including optical fiber submarine cable. The firm also expands the businesses of steel code for tire and saw wire for solar power generation. The firm establishes the annual 18,000 tonnes of steel code sales at Chinese plant in fiscal 2007. The firm started the study to double the capacity to meet growing Chinese market. The firm also improves the competitiveness for existing products and to develop new value added products along with expansion for steel code and saw wire for total 14 billion yen.