Baosteel, Baowu Aluminum, KOBELCO to form aluminum panels JV in Shanghai
2024-08-09 15:26:37 [Print]
Baoshan Iron & Steel Co., Ltd. (Baosteel), Baowu Aluminum Technology Co., Ltd. (Baowu Aluminum) and Japanese company Kobe Steel Co., Ltd. (KOBELCO) reached a formal agreement on August 8 to set up an automotive aluminum panel joint venture registered in Shanghai, China.
Kobelco Baosteel Automotive Aluminum Rolled Products Co., Ltd. (tentative name), the proposed joint venture, will be 50% owned by KOBELCO, while Baosteel and Baowu Aluminum will together hold another 50% stake, with a total investment of approximately 900 million yuan (18 billion yen).
The joint venture will operate two manufacturing plants, one in Sanmenxia and the other one in Tianjin, which will produce and sell aluminum panels for automakers in China.
Kobelco Baosteel Automotive Aluminum Rolled Products Co., Ltd. (tentative name), the proposed joint venture, will be 50% owned by KOBELCO, while Baosteel and Baowu Aluminum will together hold another 50% stake, with a total investment of approximately 900 million yuan (18 billion yen).
The joint venture will operate two manufacturing plants, one in Sanmenxia and the other one in Tianjin, which will produce and sell aluminum panels for automakers in China.
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