Froch Enterprise Co., Ltd., a Taiwan-based stainless steel manufacturer, planned to set up a steel mill in Morocco to serve the European market. Expected to start operations within three to four years, the plant is now at the early stages of planning, with a total investment of US$30 million.

In terms of the factory in Taiwan, there are currently no other plans for production expansion.

Froch said that the carbon steel market has been rising recently, and the stainless steel industry is expected to follow suit in the near future. The company’s fourth-quarter operations will be the same as the third quarter.

In the first 11 months of this year, Froch’s revenue totaled NT$11.849 billion, a year-on-year decrease of 22.12%. The after-tax net profit in the first three quarters was NT$61.52 million, plummeting by 91.4% year on year.