Press release
JO Investments achieves $749 million revenue in FY24
The company aims to increase sales to $1 billion in FY 2025 through its subsidiary entities. These include a 49% stake in Ramusaken Siam Steel , an integrated billet manufacturing plant located in Chon Buri, Southern Thailand, which is expected to commence operations in March 2025. Additionally, it holds a 50% stake in Smart Assets Africa Ltd. , which has secured mining permits across 8,800 hectares in Limpopo, South Africa, to extract high-grade CrO chrome starting in February 2025.
Javed Opgenhaffen, Chairman and CEO of JO Investments, stated:
"In the year to date, we have invested a significant portion of our retained earnings in multiple projects. These include strengthening our downstream operations through the establishment of a 450,000 MT steel processing plant in Thailand and further vertical integration via the acquisition of chrome mining assets in South Africa. These initiatives are aimed at enhancing operational profits, reducing raw material costs, and achieving economies of scale."
The company is also expanding its footprint in the Middle East. It has acquired a majority stake in Abu Dhabi-based ZAD Foods Industries, which specializes in the production and marketing of biscuits and confectionery. Furthermore, JO Investments has initiated steps to establish a pharmaceutical plant in Saudi Arabia that will focus on the production of IV drips. With these initiatives, the company is diversifying its operations to achieve its growth objectives.
Media Contact
Company Name: JO Investments
Contact Person: Haroon Mukhtar
Email: Send Email [http://www.universalpressrelease.com/?pr=jo-investments-achieves-749-million-revenue-in-fy24]
Country: United Kingdom
Website: http://www.josteelholidngs.com
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