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Thai steelmakers shop for projects abroad.

Bangkok Post (Bangkok, Thailand)

| July 06, 2004 | COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Nareerat Wiriyapong

Jul. 6--The continued rise in global demand and high prices offer Thai steel manufacturers an opportunity to look for acquisitions of upstream steel projects overseas, according to the Iron and Steel Institute of Thailand.

Sahaviriya Steel Industries Plc said yesterday its improved financial performance had prompted the SET-listed steelmaker to be ready for a huge investment to integrate backward to steel smelting.

Wikrom Vajragupta, the institute's director, said a study prepared by the global consultancy McKinsey indicated that the timing is right for the Thai steel industry to invest in its own upstream ...

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Source: HighBeam Research, Thai steelmakers shop for projects abroad.