BoMyung Metal Co., Ltd. (South Korea)

Business increased over the preceding year with growing sales of stainless steel products while sales is posted by newly started titanium bars and shapes. Net loss is posted as operating income to net sales decreased with increased sales and admin expenses as margin rate declines and bad trade receivable checks are written off. Overall financial stability indexes degraded from the preceding year as short-term borrowings decreased, increasing debt balance. Growth will continue with growing sales share of titanium products while demand for stainless steel will increase with growing markets of electronic appliances and industrial plants. Profitability will improve with fixed cost reduced by growing sales while margin rate increases with high margin products. Profitability will improve with cost saving while subsidiary Baekcheol Metal has obtained permits for constructing a nickel refining factory in Indonesia.