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Kobe Steel and Angang Steel form auto CR JV in Anshan 金屬展-冶金展-2014廣州金屬暨冶金工業展覽會-亞洲最大金屬冶金展-巨浪展覽-The 15th China(
Guangzhou)Int’l Metal &Metallurgy Exhibition
10/18/2013 金屬展-冶金展-metal expo-metallurgy expo |
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Kobe Steel, Ltd and China’s Angang Steel Company Limited, a leading subsidiary of Anshan Iron & Steel Group Complex, signed a joint venture agreement in Anshan, Liaoning Province, to establish a joint venture in China to produce and sell advanced cold rolled high strength steel sheet for automobiles.
The new company, to be called Kobelco Angang Auto Steel Co Ltd will construct a continuous annealing line with a production capacity of 600,000 metric tons per year within Angang’s steelworks. Following incorporation procedures to establish the joint venture, plans call for production to begin in early 2016. Total investments are anticipated to reach CNY 1.75 billion (CNY 28.9 billion).
Kobelco Angang will be headquartered at Angang’s steelworks, Anshan Base, in Anshan, Liaoning Province. The continuous annealing line will make cold-rolled high-strength steel with a tensile strength of 590 MPa or higher. Angang will supply the joint venture with the substrate coils. The joint venture will employ about 100 people when it reaches full operation.
The new company will be capitalized at CNY 700 million (JPY 11.6 billion yen). Angang will own 51% of the venture. Kobe Steel plans to hold a 49% share through Kobelco (China) Holding Co Ltd.
Source – Strategic Research Institute
金屬展-冶金展-2014廣州金屬暨冶金工業展覽會-亞洲最大金屬冶金展-巨浪展覽-The 15th China(Guangzhou)Int’l Metal &Metallurgy Exhibition |
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