swerteplay SteelAsia sets record-high $19M export
Updated:2025-02-07 18:42:05 Views:171
FILE PHOTO: Through its Davao mill, SteelAsia Manufacturing Corporation shipped 14,200 metric tons of high-strength steel bars worth $8.8 million (P511.24 million) to Canada on October 2024. This is the first time the company’s 600-thousand-ton-per-year Davao mill—or for any steel mill in Mindanao—to export steel products.
MANILA, Philippines — One of the country’s biggest producers of steel products, SteelAsia Manufacturing Corporation, said it had shipped out its largest shipment to date, marking a new milestone for the company with its $19 million (P1.1 billion) export last month.
In a statement, SteelAsia said it’s 32,000 metric ton of high-strength reinforcing steel shipped out last January 30 from its Davao City plant to Canada.
Article continues after this advertisementREAD: SteelAsia ships P511.24M worth steel bars to Canada
FEATURED STORIES BUSINESS BSP eyes shift away from OTPs to fight fraud BUSINESS Trump halts Canada, Mexico tariffs after last-ditch talks BUSINESS BIZ BUZZ: Sobrepeña eyes deal with Sta. Lucia groupThe company said it will be used for a subway project in the city of Vancouver.
“We have repeat orders from the same buyer and project, a vote of confidence in our reliability as a supplier and in the quality of our products,” SteelAsia Chairman and chief executive officer Benjamin Yao said over the weekend.
Article continues after this advertisement“Locally, it is the same for us since the top developers are our biggest loyal customers,” he added.
Article continues after this advertisementIn October last year, the company also shipped $8.8 million (P511.24 million) worth of high-strength steel bars to Canada, which marked its seventh shipment to its inaugural first-world market.
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free slots for fun Article continues after this advertisementThe previous six shipments were from the firm’s steel mill in Batangas, totaling more than 41,400 metric tons and are worth P1.58 billion.
To date, SteelAsia has exported a total 87,000 metric tons with an approximate value of P3.2 billion for the same Canadian subway project.
Article continues after this advertisementThe company added that it currently operates 4 steel mills in various locations across the country and constructing a green steel H beam plant in Lemery Batangas. It is also in the process of developing a site for a second green steel H beam plant worth P30 billion Candelaria, Quezon.
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