Sanyo Special Steel Eyes Offshore Bearing Demand

Sanyo Special Steel expects the firm’s bearing steel demand increases for wind and thermal power plant in overseas especially in China and USA. The director Masaharu Kobayashi said at a presentation for result of fiscal 2010 ended March 2011 on Thursday the firm had little impact from automobile output reduction after the major earthquake. However, the firm expects the output would be 20-30% lower in first half of fiscal 2011 than same period of fiscal 2010.

Mr. Kobayashi said the firm’s shipment was 90,000 tonnes per month in March-April. He said the firm expects the output in second half of fiscal 2011 would return to the level of same period of fiscal 2010.

Sanyo Special Steel plans around 30 billion yen of investment for 3 years through fiscal 2013. The firm aims to double export rate to 30% of the shipment in 3 years.