Dong Yang Steel Pipe signs contract with Japanese EPC company

DongYangSteelPipe, a steel pipe unit of KBI Group, said on Tuesday that it had signed on the previous day an agreement with a Japanese EPC (engineering, procurement, and construction) company to supply steel pipes for plant piping.

The contract period is from Jan. 9 to Jul. 14 this year, and the company will supply steel pipes for plant piping to the Middle East.

Dong Yang recorded sales of 186.6 billion won ($150.4 million) and an operating profit of 5.7 billion won ($4.8 million) in the third quarter last year. Sales increased 51.2% compared to the same period last year, and operating profit turned to the black.

"Starting with the first supply contract this year, we will make an all-out effort to increase sales to remain in the black," said an official of Dong Yang Steel Pipe.

Write to Gyeong-Jin Min at min@hankyung.com