|Joudco Steel planning to increase its steel production this year
|Syria - 2006 June 1
Joudco Steel, a company of the private sector, produced 105.000 tons in 2005 compared to 99000 tons in 2004. Its total sales amounted to 95500 tons of which 26000 tons were exported to the neighbouring companies, like Lebanon and Cyprus, and 69500 tons were sold in the domestic market.
The company is planning for 2006 to reach a figure of 120000 tons of production and to increase its sales to reach 120000 tons Joudco is one of five steel companies of the private sector in Syria contributing mainly to covering the requirements of the domestic market.
According to the company’s Director, Mr. Anas Joud, the high prices of inputs in 2005 and the decline of the prices of the finished products had had reverse results in respect of the company’s profitability in 2005 compared to 2004, as it was not possible to load the prices of the finished product with the increase which had taken place as well as with the costs of raw materials and inputs which may leave negative results on the situations of the market.