Alloy Steel International Inc. (ASYI), the parent company of Alloy Steel (Int) Australia Pty Ltd was incorporated in Delaware USA in September 2000 and listed on the OTCBB in July 2001. ASYI acquired 100% of the share capital of Alloy Steel Australia (Int) Pty Ltd, the manufacturer of Arcoplate in June 2001.
Arcoplate was first manufactured in 1991 and was the invention of the Company's Western Australian Chairman, Mr. Kostecki. Mr. Kostecki at that time was involved in the mining industry in Western Australia and perceived the need for a much improved and different type of wear plate to improve the productivity of the mining companies. The company has developed and manufactured all production plant and ancillaries in house.
The company's funding for development, machine building, marketing and machinery costs have come from capital raising on listing on the OTCBB and support of the directors, but with the majority of the funds being internally generated from commercial activities. As part of future expansion plans, the company is in the process of setting up its own office and distribution facility as well as carrying out due diligence on the possibility of the manufacturing in overseas locations.
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