Production Record and Plan for Copper Strip Products (1st quarter, 2015)
Furukawa Electric Co., Ltd. announced the status of the recovery in production volumes of copper strip products, for which integrated production was restarted in January this year. Furukawa Electric expressed to continue to implement steady operation and aim to become a "manufacturer that meets its responsibilities as a partner".
Quarterly trends in production volumes for copper strip products
The suspension of integrated production as a result of the snow damage of February 2014 caused production volumes of copper strip products to fall around 60% compared to the level prior to the snow damage. However, since the resumption of integrated production in January of this year, production volumes are on an upswing at an average of around 73% during the first quarter of the current fiscal year compared with production prior to the snow damage. June results (2,500 MT/month) showed that production volumes recovered to 80%.
Moving forward, Furukawa Electric will focus on the infrastructure and automotive markets, make full use of their strengths in oxygen-free copper and original copper alloys, and make every effort—including launching a consignment stock service to support their customers—to overtake as soon as possible the production volume they had achieved prior to the snow damage.
Demand for copper strip products slowed down during the first quarter of fiscal 2015, for both infrastructure/automotive and electronic component related products. Although production volume recovery was expected to undergo a lull due to inventory adjustment in the market, volume has shown a recovery trend since June, entering the second quarter.
About Furukawa Electric Group
Furukawa Electric (TSE; 5801, ISIN; JP3827200001) Group started business in 1884, when its copper-smelting facility and wire manufacturing factory was established. Since then Furukawa Electric has become pioneers in the latest technologies by addressing diverse technological issues. Furukawa Electric has released products in a number of areas, including telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have attained the top global market share, and all of its products have contributed to society in numerous business areas. Furukawa Electric reported consolidated revenues of JPY 867.8 billion (approximately USD 8.2B) for the fiscal year ended March 31, 2015.