TKC Steel Corporation subsidiary Treasure Steelworks has completed the commissioning of its newly-installed ladle furnace in its facility in Iligan City.
The ladle furnace, the first in the Philippine steel industry landscape, is an integral component of the Company's capacity expansion and capability enhancement program started in 2008. With a capacity of 60 metric tons, the ladle furnace will serve as the holding receptacle for the liquid steel produced in Treasure Steel's melting furnaces, thereby shortening production cycle time and effectively increasing manufacturing output by approximately 30 percent. The improvements in quality and productivity would put Treasure Steelworks at par with worldwide steelmaking practice.
According to TKC Steel President Anthony S. Dizon, the ladle furnace is an important step forward in the Company's overall business development strategy, as the group prepares for the activities that will be generated by the economic stimulus packages being implemented in the country as well as in other parts of the world.
"The increased capacity will enable us to position ourselves strategically for the recovery push, and also provides us the opportunity to pursue available export market opportunities. As we speak, we are presently in the midst of preparations to service a 5000 metric ton export shipment to Bangladesh by the end of the month", Dizon said.
"Moreover, our improvements in equipment and operating procedures will be the crucial links in the overall process at the time our blast furnace comes on stream in the near future", Dizon added.