STANDARD & AMP; Poor's said yesterday it had assigned a B-minus long-term corporate credit rating to Nakornthai Strip Mill Plc ( NSM ), a major steel manufacturer.
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The continuous hot strip mill rolled its last hot rolled coil on 29 September 1977, having rolled 23million tons of steel since first being commissioned in 1937.
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Weirton Steel Corp ., hurt by a blast furnace project and a production disruption at its hot strip mill, will lose money for the fifth consecutive quarter.
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Another important contribution is the work presented at City University in London in 2005 : �Modelling heat transfer in work rolls of a continuous hot strip mill.
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Steel Dynamics will use some of its proceeds from the stock sale to add a seventh rolling mill stand to its hot strip mill, the filing said.
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Nakornthai Strip Mill's stock also declined Tuesday, closing at 8 . 20 baht ( 19 cents ) a share, down 0 . 20 ( half a cent ).
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The hot strip mill began operations in July 2010, the cold roll mill in September 2010, and the first of the hot dip galvanizing lines in March 2011.
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In the case of Nakornthai Strip Mill Plc, in which Sawasdi is major shareholder and chairman, the company asked its creditors to extend the loans and interest-payment period.
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Earlier, his group received $ 650 million for the Nakornthai Strip Mill Plc ( NSM ) in debt and equity offerings from foreign investors led by US-based McDonald Securities.
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Chamni Janchai, managing director of Nakornthai Strip Mill Plc and a member of the creditors'committee, said he still does not know the exact role and benefits of the committee.
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