T-Plex Completes Slitter Line Equipment... Expanding Plate Market

[Asia Economy Reporter Hyungsoo Park] Stainless steel processing company T-Plex has completed its investment in cold-rolled (CR) slitter equipment and started production.

T-Plex announced on the 20th that it completed the investment in cold-rolled slitter equipment after investing 2.5 billion KRW since being designated as a POSCO coil partner processing center last December.

T-Plex's sheet metal production volume will increase from the existing 1,000 to 1,300 tons per month to 2,000 tons per month. Sheet metal sales are expected to grow from 4.5 billion KRW per month to 9 billion KRW per month.

T-Plex achieved sales of 188.3 billion KRW and operating profit of 18.1 billion KRW through the third quarter of this year, surpassing last year's total sales of 189.5 billion KRW and operating profit of 16.8 billion KRW.

A company official explained, "the sheet metal division will be the driving force behind external growth."

Since being designated as a POSCO partner processing center at the end of last year, T-Plex has invested in the sheet metal division while strengthening sales. CEO Kim Young-guk said, "When we were listed on the KOSDAQ market, the Lehman Brothers crisis made the domestic and international economic environment difficult," but added, "Thanks to starting the sheet metal and wire rod businesses, we overcame the crisis."

He continued, "Another crisis came with the COVID-19 pandemic, but we took off through the stabilization of the wire rod division and the cold-rolled coil business."

T-Plex's slitter line is expected to serve as a foundation to immediately respond to the demands of the approximately 1,500 client companies, along with improving profitability.

The sheet metal market accounts for 70% of the stainless steel market, highlighting its importance. Cold-rolled (CR) steel is widely used in architectural interior and exterior materials, home appliances, and more. Recently, stainless steel cold-rolled steel is also required for designing and building electric vehicle battery production lines. CEO Kim said, "The sheet metal division will meet customer needs with a slitting equipment line that precisely cuts while securing flatness and smooth cut surfaces."

This content was produced with the assistance of AI translation services.