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Hyundai sold 40,000 tons of stainless steel pipe production equipment to respond to market changes

Hyundai sold 40,000 tons of stainless steel pipe production equipment to respond to market changes
 
Hyundai Steel has recently decided to EcoLing stainless steel tube equipment within the plant in Ulsan will be a full set of sale.
 

EcoLing stainless steel tube means economic (economy), is the use of high pressure water and double stainless steel tubular products Carbon Steel mechanically bonded in corrosive internal carbon steel using a stainless steel, thereby improving the corrosion resistance. Further, as compared with stainless steel pipe used alone, the product can save more than 30% of the manufacturing costs. EcoLing stainless steel pipe equipment original modern Hysco invest 16 billion won, in September 2011 to achieve mass production, designed annual production capacity of 40,000 tons. In July this year after the acquisition of fully modern Hysco, Hyundai on the profitability of different types of products were re-evaluated, identified EcoLing stainless steel tube business and not much effective, thus starting in August to stop production. Although modern construction companies and other major construction companies have a certain demand for the product, but recently with the continued decline in stainless steel prices, the product price down, resulting in a considerable backlog of inventory, but also in the short term profitability and no major improvement. Therefore, in order to fully focus on high-yield product mix, Hyundai decisive suspend the relevant business and pushing foreign sales of related equipment.