By Kwan Shin-han / Staff reporterTung Ho Steel Enterprise Corp (東和鋼鐵) yesterday said its Vietnamese plant would remain in the red next quarter due to lower gross margin, but there was a chance for the plant to break even within one to two years. The plant, which has a capacity of 50,000 tonnes per month, has produced about 20,000 tonnes of steel a month since it started operations early this year, he said. Formosa Ha Tinh Steel Corp (台塑河靜鋼鐵) earlier this year began selling billets earlier, adding to the already slumping steel market in Vietnam, Tung Ho said. Ho said that he expected competition from Formosa Ha Tinh Steel would ease after the plant shifted its products to coils and wire rods in the next few years. In the first half of the year, net income climbed 25.23 percent to NT$711.63 million from NT$568.4 million a year earlier.

Source: Taipei Times September 26, 2019 15:56 UTC