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Sidenor Plans To Invest In Distribution Network And Logistics Abroad

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Sidenor and Corinth Pipeworks focus entirely on foreign markets in a way to strengthen their activities. 

Sidenor plans to utilize its advantages in order to restrain the transportation cost, as factories in Thessaloniki and Volos are directly connected with railway network and three ports, while the administration emphasizes on distribution and logistics following the takeover of port infrastructure on Danube river. 

Sidenor’s chief financial officer Stratos Thomadakis and Corinth Pipeworks’ new chief financial officer told Institutional Investors Association on Wednesday that the group’s investments are related to the development of distribution network and construction of warehouses. Investments in warehouses in Albania have already completed in 2010, while there are plans for warehouses in Bulgaria too. 

The objective is the lowest possible cost of scrap imports for Sidenor, according to group’s executives, adding that port facilities on the Danube are important, as the transportation cost of steel is significant.

The new investment in the factory of Sovel in Volos will be completed in July, increasing the capacity by 300,000 tones to 1.2 million tones.
Sidenor will be able to cover the increasing demand of tonnage, focusing on the markets of Southeast Europe, North Africa and Middle East. 

The company administration considers the Algerian steel market as “strong”. Thus, Sidenor intends to create a “base” in the country, building a commercial network with dealers. 

Sidenor worked at 65% of its capacity in 2010, while regarding Corinth Pipeworks, the company expect to report better results in 2011 than 2010.
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