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Steelmakers will have to remain cautious in their business management before economic activity picks up in the United States and Russia, Sato said during a recent interview with Kyodo News.
The rate of capacity utilization at Kobe Steel hit bottom in April and has since risen back to around 70 percent from about 60 percent earlier this year, he said.
"We expect the rate to rise further to some 80 percent later in 2009, though our money-losing trends will continue." Sato also said Kobe Steel is set to develop specialty steel products which are "strong and easy to process" in order to help automakers improve the fuel efficiency of motor vehicles as their top priority.
To see more of Kyodo News International, go to http://www.kyodonews.com Copyright (c) 2009, Kyodo News International, Tokyo Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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