Terra Nostra announced greatly increased preliminary revenue numbers for its joint operations. Fully consolidated results for the fourth quarter and fiscal year (audited) ending May 31, 2007 are expected in the next 45 days.
For the quarter ended May 31, the company’s Shandong Quanxin Stainless Steel joint venture operations generated $88.8 million. The large increase was caused by the growing production at the casting mill.
Shandong Jinpeng Metallurgical copper joint venture operations increased their revenues from $39.6 million to $44.5 million, with a total of 4,643 MT of electrolytic copper and copper rods sold.
Mr. Sun Liu James Po, CEO of Terra Nostra, commented, “The ramp-up of stainless steel operations in the fourth quarter were accelerated due to strong customer demand, and our congratulations go out to the management and operational teams in Zibo, China for bringing the mill to over 70% operating levels through April and May, ahead of schedule.”
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