Gloria Material Technology Corp. (GMTC), Taiwan's largest specialty alloy producer, reported consolidated revenue of NTD 1.058 billion (USD 33.2 million) for August, reflecting a 3.6% decline compared to the previous month and a 5.1% drop y-o-y. The company's cumulative revenue for the first eight months of the year also saw a 2.53% decrease, totaling NTD 8.93 billion (USD 280.5 million).
Despite these declines, GMTC announced that its order books are fully booked until the first quarter of next year, with orders valued at over NTD 8 billion (USD 251.3 million). These orders were mainly for high-margin steel products used in the aerospace, energy and oil and gas industries, it stated.
Production at GMTC’s Xinying plant gradually resumed in July. Although the company’s gross profit was impacted by earlier low demand for commercial stainless steel and tool steel, the resumption of operations is expected to boost business as market demand recovers.
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