TNI back on growth track on strong sales, profitability

A TNI production facility in Ulsan / Courtesy of TNI

TNI, the nation's largest titanium parts maker, is maintaining growth momentum on increasing sales after it turned profitable last year. The turnaround came two years after it completed restructuring programs in 2021.

The company posed 31.1 billion won in sales and a 3.7 billion won operating profit so far this year, and expects full-year sales to grow to 40 billion won in 2023, up from 18.8 billion won last year.

In 2015, the company was put under court receivership as it took a severe blow from steep falls in orders following an earthquake and tsunami in northeastern Japan in 2011.

“We've finally emerged from six to seven years of hardship under court receivership. It's a rare turnaround for any Korean companies that have struggled under receivership,” TNI President Ryu Byoung-min said in a statement. “We were able to get back on track thanks to our workers' hard work during those years."

Ryu expects the company to maintain its growth momentum next year, despite adverse external business conditions due to the global economic downturn and ongoing war in Ukraine. The government’s support for nuclear energy will help strengthen its bottom line, he said.

TNI’s products using its cutting-edge titanium processing technology are widely used in the nuclear power, petrochemical and shipbuilding industries.