Japan's Kobe Steel, China's Baoshan Iron and Steel (Baosteel), and Baowu Aluminum agreed to establish a joint venture to produce aluminum sheets for the automotive industry.
Kobe Steel will hold 50% of the new joint venture, with the remaining 50% shared by Baosteel and Baowu Aluminum. The joint venture is tentatively named Kobelco Baosteel Automotive Aluminum Rolled Products Co., Ltd., headquartered in Shanghai, with a registered capital of CNY 900 million.
The company will produce at two sites located in Tianjin and Henan provinces. The company mainly produces aluminum sheets and provides services to domestic automobile manufacturers in China. This collaboration shows that the lightweight materials demand for automotive industry is increasing.
Kobe Steel, Baosteel, Baowu Aluminum establish automotive aluminum sheet joint venture
15 Aug 2024 15:57 reported by Huda Chen
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