Kumkang Ind. to Discontinue Steel Bar Business and Launch Colored Square Steel Pipe Business

摘要

Kumkang Ind. is reportedly planning to wash its hands of carbon steel and stainless steel bar business. Kumkang Ind., which has been recently pushing ahead with the sell-off of its drawing facilities at its Banwol Plant, stopped its purchase of stainless steel and carbon steel wires, the raw materials for its products, last month. Such a move by the company to stop the purchase of raw materials indicates its intension not to turn out its products any more, thus withdrawing from its steel bar business. Regarding this matter, a high-ranking official at the company said, 'It is true that we are considering selling our steel bar production facilities, but we have nothing decided on our future business direction or plan. When we fix any, we will announce it through a public notice.'