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Hyundai Steel merger with Hyundai Hysco 不銹鋼展-2014第十五屆廣州國際不銹鋼工業展-效果最好的不銹鋼展會-The 15th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
10/18/2013 不銹鋼展-stainless steel expo |
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Woori Investment & Securities said on October 15 that the likely merger of Hyundai Hysco will affect the share price of Hyundai Steel positively.
Woori Investment & Securities analyst Byun Jong-man said that "As Hyundai Steel completed the construction of its third blast furnace in September, it no longer needs spend a large amount in capacity expansion projects.It is highly likely that it will merge with Hyundai Hysco, a cold-rolled steel sheet maker." He added that "A merger will be definitely positive for Hyundai Steel''s share price.”
He also predicted Hyundai Steel''s third-quarter financial performance at KRW 3,019.5 billion in sales revenue (-8.5% from previous quarter), KRW 153.5 billion in operating profit (-15.4%), and KRW 291.9 billion in net profit (+222.5%). Comparing to market consensus figures, sales revenue is almost same while those for operating profit and net profit would be in excess by 4.0% and 38.3% respectively.
The improved financial results are due largely to the price increase in August by KRW 30,000 per tonne for the company''s hot-rolled steel sheets sold for large customers.
Source – Korea It Times
不銹鋼展-2014第十五屆廣州國際不銹鋼工業展-效果最好的不銹鋼展會-The 15th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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