Steel Plantech to Clear Target Profit Rate in F2010

Japanese steel plant maker, JP Steel Plantech will realize targeted 5% of recurring profit rate for the annual sales at more than 40 billion yen in fiscal 2010 ending March 2011. The firm concluded business cooperation with Chinese major plant maker, Shanghai Zhongxing Jiqi Chang in December. Steel Plantech opened an office in Brazil in December. The firm plans to increase the offshore sales to follow growing demand.

Steel Plantech plans to increase its order receipt to 50 billion yen in fiscal 2010 from around 22 billion yen in fiscal 2009.

Steel Plantech promotes the overseas market development in fiscal 2010. The firm concluded business cooperation with Shanghai Zhongxing Jiqi Chang in December. Steel Pantech has developed the relationship with the Chinese maker through original equipment manufacturing. With the new agreement, Steel Plantech expands the relationship mainly in cold rolling facilities to develop Chinese market.

Steel Plantech opened an office in Sao Paulo to support construction work of integrated steel works in Brazil. The firm plans to increase the sales in emerging countries. The firm plans to open sales and manufacturing sites in India, which the firm expects the most important market as China.