Australia's number one steel company (OneSteelLtd.) CEO GeoffPlummer19 said Tuesday that the company will increase the annual sales volume of 36% iron ore price in order to seize this opportunity to record.
The Australian second largest steel maker, announced earlier this fiscal ended June 30 reported a FY08 net profit up 18% YoY,glue stick from 07 in fiscal year increased to 244.9 million Australian dollars 207 million Australian dollars, 08 Full fiscal year sales growth of 73% compared to 7.43 billion Australian dollars.
Number one steel company in August 2007 acquired Australia's third largest steelmaker,glue gun Smokin Roots Steel (SmorgonSteel) most of the assets to expand its production more than 50%. Number one steel company has invested 400 million Australian dollars to its Weiye La steelworks (WhyallaSteelworks) into steel using magnetite rather than hematite, and increased sales of hematite.
Plummer said the number one steel company iron ore sales in fiscal year 08 440 tonnes, higher than the initial target of 400 million tons and is expected to be from the beginning of fiscal year sales of 09 to 600 tons.
08 fiscal year, the number one steel company to 10 billion Australian dollars also from the root of the acquisition of Steel Smokin recorded 4,100 million Australian dollars in synergies is much higher than the number one steel company initially set the goal of 2,500 million Australian dollars.
Plummer 09 fiscal year the company expects cost synergies will rise to 8,000 million, in fiscal year 2010 and further rose to 100 million Australian dollars.