30 percent growth in Hormozgan Steel Company’s production
Hormozgan Steel Company achieves profitability in the 12 months to March 20, 2018, said the company’s managing director Farzad Arzani in a news conference marking the 6-year anniversary of the company’s inauguration.
He presented a report on the company’s performance since its inauguration and said that Mobarakeh Steel Company (MSC) has played a vital role in inaugurating Hormozgan Steel Company and helping it initiate its production process. “MSC acquired Hormozgan Steel Company in 2011 by buying 100 percent of its shares.”
Arzani further said that the transfer of technical knowhow and experience of experts from MSC, which is the country’s largest steelmaker, played an instrumental role in the growth and progress of Hormozgan Steel Company in the sanctions era. Thanks to that, Hormozgan Steel Company is currently producing quality steel slabs in the country.
Hormozgan Steel Company accounts for 8.1 percent of the crude steel produced in Iran, he said, adding it produced more than 1 million slabs in the first nine months of the current Iranian year, posting a 30 percent increase over corresponding period last year [ended on March 20, 2017].
The managing director went on to say thanks to faith in God and tireless efforts of staff in Hormozgan Steel Company, the company will reach profitability this year, adding that due to such profitability the company will be able to make up for its accumulated losses over the past five years.
The slabs Hormozgan Steel Company produces are of the highest quality in the country, he said.
In light of the company’s share envisioned in the country’s steel outlook, it is determined to produce as much as 10 million tons of steel in the special economic zone in the province, he added.
Arzani said the company is waiting for finances to complete its expansion project(s) and added the finances will come up in the form of a $ 400 million contract.
The managing director then said the strategies formulated in the company’s different departments are as follows: raising revenues by developing exports and selling special products with higher added value; providing effective cost management; boosting customer satisfaction and creating shared value (CSV); upgrading staff safety and health; planning for and developing production capacities; expanding designing capabilities and making special products; securing timely and inexpensive finances; identifying and developing export markets; cutting production costs as well as service and consumption expenses; promoting processes in terms of quality and quantity; offering timely, economical and quality finances; developing the infrastructure as well as information and communication networks; and promoting organizational agility.
source: MSC
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