SteelAsia says January shipment sets export record

STEELASIA MANUFACTURING Corp. completed a P1.1-billion shipment of high-strength reinforcing steel to a subway project in Vancouver, Canada, last week, its chairman said.

“We have repeat orders from the same buyer and project, a vote of confidence in our reliability as a supplier and in the quality of our products,” SteelAsia Chairman and Chief Executive Officer Benjamin Yao said in a statement on Feb. 1.

“Locally, it is the same for us since the top developers are our biggest loyal customers,” he added.

According to the company, the shipment on Jan. 30 was the country’s largest steel export to date.

The 32,000-metric-ton shipment of high-strength reinforcing steel came from the company’s mill in Davao City.

The latest shipment brought SteelAsia’s total exports to the Canadian subway project to 87,000 metric tons with an approximate value of P3.2 billion.

SteelAsia operates four steel mills, which have a total capacity of 2.5 million metric tons per year.

These are Meycauayan Works, Calaca Works, Davao Works, and Compostela Works.

It is also constructing a green steel H-beam plant in Lemery, Batangas, and will begin site development in Candelaria for a second green steel H-beam plant worth P30 billion.

In July 2024, the company announced an P82-billion investment for plants in Candelaria, Quezon; Lemery, Batangas; Davao City; and Concepcion, Tarlac.

The company’s investment aims to reduce the country’s reliance on imports, create jobs, and contribute to the country’s economic growth. — Justine Irish D. Tabile