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Although the global steel industry is facing challenges, Lion Industries, a major Malaysian steel producer, has confirmed that its flagship plant, Amsteel, located in Bukit Raja, Klang, is still in operation.
Previously, local media reported that the company planned to close two factories under Amsteel located in Bukit Raja and Banting, Klang. A709 Grade 50W steel plate, In a filing to the stock exchange, Lion Industries clarified and emphasized that Amsteel, which has been operating since 1978, is currently focused on improving operational efficiency, strictly controlling costs, and diversifying its product range.
However, after 47 years of operation, the company acknowledged that the factory's machinery and equipment needed upgrading and is actively seeking strategic partners to introduce new technologies and processes. A709 Grade 50W steel plate, This modernization will make the factory more efficient, more cost-competitive, and better able to adapt to current market demands.
On the other hand, due to recent increases in electricity costs, which have created economic difficulties, Amsteel's Banting factory has temporarily suspended operations.
Golden Lion Industries is exploring options to revitalize its Banting factory, including seeking strategic partners to introduce new processes and products. A709 Grade 50W steel plate, Further announcements will be made once a suitable partner is found.
The statement concluded by emphasizing: "We must point out that steel remains the core business of Golden Lion Industries, and we have no plans to close Amsteel other than for upgrading and modernization."
