Mycron Steel Bhd ... Mar 09

Mycron Steel Bhd will bank on a three-pronged strategy to bounce back from the current economic slowdown which has severely affected demand for its cold-rolled coils (CRC).

It will focus on producing higher-end CRC for the auto sector, the electro galvanised steel market and increase exports especially to the Asean region.

The flat steel manufacturer is currently producing some 500 tonnes of CRC monthly for Proton Holdings Bhd to manufacture auto components.

Mycron recorded a net loss of RM18.8mil for the second quarter ended Dec 31, 2008 versus a net profit of RM2.3mil in the corresponding quarter of 2007 after an impairment loss of RM21.1mil. However, the group made a marginal operating income of RM99,000 minus the impairment loss.

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