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Two local Thai steel AB/FQ70 steel manufacturers, Thai Galvanized Steel Plate Co., Ltd. (TCS) and Thai Cold Rolled Steel Plate Co., Ltd. (TCRSS), have decided to address the volatility of the steel market through a merger. This resolution was officially announced on Tuesday, following warnings from the Electric Furnace Steel Producers Association that President Trump's tariff policies may severely impact the steel market, leading to a decline in steel consumption.
The president of the association AB/FQ70 steel stated that retaliatory tariffs imposed by the United States on goods from multiple countries may trigger an economic recession, thereby suppressing steel demand and causing price fluctuations. The President of TCRSS announced that TCS and TCRSS's major shareholders have unanimously decided to merge TCS into TCRSS. The merger transaction is scheduled to take effect on October 1st. The major shareholders include Sahaviriya Steel Industries Plc, JFE Steel Corporation of Japan, and Marubeni Itochu Steel Inc.
TCS and TCRSS were both established in 1990, and their merger will be optimized through three major action plans: improving operational efficiency, enhancing product quality and customer responsiveness to explore new markets, and building a robust integrated supply chain covering the middle and lower reaches.
According to reports, TCS is the only galvanized AB/FQ70 steel steel sheet manufacturer in Thailand, with an annual production capacity of 180000 tons at its factory located in Bashu Province; TCR mainly produces and sells cold-rolled steel coils, and its factory in Bashu Prefecture has an annual production capacity of 1.2 million tons. After the merger of the two, the annual production capacity will reach nearly 1.4 million tons.
