SEATTLE (Scrap Monster): Leading Philippines steelmaker SteelAsia Manufacturing Corp. has delivered its first shipment of reinforcing bars to Canada. The shipment comprised of nearly 10,000 metric tons of steel reinforcing bars, worth over P300 million (around $6 million). With this, the country has become a steel exporter after several decades.
Yvette Sy, senior vice president and head of sales, SteelAsia stated that the company is extremely excited to see rebars made in the Philippines being used in buildings and infrastructure projects in Canada. The exports are further to passing of the stringent steel standards set by Canadian authorities. The exports testify the competitiveness and world-class quality of steel products manufactured by SteelAsia, she added.
Meantime, SteelAsia has clarified that it will continue to support domestic steel requirements, by supplying steel products to drive the massive infrastructure development projects in the country. In addition to local supplies, the company will also focus on exports, thereby helping the country earn precious foreign exchange.
Incidentally, SteelAsia operates six rebar rolling mills- three in Luzon, one in the Visayas, and two in Mindanao. The combined output by all these six mills is estimated at more than 2 million tons per annum.
Earlier in December 2018, SteelAsia had sighed partnership agreement with Chinese firms HBIS Group Co., Ltd. and Huili Investment Fund Management Co., Ltd towards development of a new $4.4 billion integrated steel complex project.