TIL Steel business signs MoU with Chow Steel
April 25, 2018
Tata International (TIL) signed a Memorandum of Understanding (MoU) on April 5, 2018, with Chow Steel Industries. The MoU is for the supply of 100,000 MT of steel billet over the next 12 months.
Mr John Caouki, Director of Steel, Tata International, and Mr Anavin Jaratomsiri, Founder-Majority Shareholder, and Chairman of the Executive Committee for Chow Steel, signed the agreement at the Chow Steel office in Bangkok, Thailand.
TIL has had good business relations with Chow Steel, having exported approximately 40,000 MT of steel billets from the company in the preceding 12 months. The MoU solidifies the relationship between the two companies, and is an important step towards their ongoing long-term cooperation.
Chow Steel was founded in 2003 and began commercial production of steel in 2005. Today, they have a current annual production capacity of 730,000 MT of steel billets. Able to produce 100 mm, 120 mm and 150 mm sizes, Chow Steel is a significant billet producer for the Thai domestic market, while also being a regular exporter to Philippines, Indonesia, and Vietnam. It is an ISO 9001:2008 certified company and publicly listed on the Stock Exchange of Thailand in its Market for Alternative Investment (Ticker symbol “CHOW”). It is also a member of the London Metal Exchange.
Apart from steel production, Chow Steel also has an 87.36 per cent holding in Chow Energy, which owns and operates eight solar farms in Japan with 32.35 MW total capacity.
Mr Karl Sung and Mr Nick Way were also in attendance at the signing ceremony.