Belgium's Bekaert and China's Ansteel announced an joint investment of EUR150m in the build up of a new steel cord plant in Chongqing's Shuangqiao District.
The 50/50 joint venture is seen as a "first step in the realisation of
a strategic partnership", the press release of the two companies says.
Production is planned to start in 2009 and also involves a capital
investment of EUR40m. Bekaert is a leader in advanced metal
transformation and in advanced materials and coatings.
In 2007, the company had combined sales of EUR3.4 bn and employed 20,400 people around the world. Ansteel is one
of the major steel producers in China.
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Belgium's Bekaert and China's Ansteel announced an joint investment of EUR150m in the build up of a new steel cord plant in Chongqing's Shuangqiao District.
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