The new high precision cold-rolled steel production line with a designed annual capacity of 500,000 metric tons (MT) is expected to start trial operations in the first half of calendar year 2013. Once operational, we expect this new line will increase our cold-rolled steel capacity to 750,000 MT. Cold-rolled steel products are used as raw materials to manufacture hot-dip galvanized and pre-painted galvanized steel products, for which we have a capacity of 700,000 MT and 200,000 MT, respectively.
We are making progress on our recently established electronic commerce B2B platform, a complementary business to our existing capital intensive and asset heavy steel processing business. We believe that this platform has significant upside potential. We are currently using it to promote and sell our own products to existing customers. Additionally, we plan to introduce this platform to other companies in the heavy industry to promote and sell their products.
We recently started commercial production of galvolume steel plates. Derived from hot-dip aluminum galvanization and hot-dip zinc galvanization technology, our galvolume steel plates possess exceptional anti-corrosion, anti-oxidation and electric-chemical properties, which make it less prone to rust and corrosion. As a result, this product can be used in a variety of industries such as construction, household appliances, automobiles, machinery and shipping.
Ms. Chen concluded, "We have well positioned our Company to take advantage of additional opportunities arising from China's expected economic recovery. Sutor's business is strong and competitive, and should continue to profitably grow in fiscal 2013."
mm7260...you can not be serious? This was in the current quarter press release...scary the amount of DD people do! This is another reason for the recent sell off..you have misinformed investors that have no clue why they are even in SUTR..