Posted on 01 Nov 2013
Kobe Steel, Angang Steel Form Joint Venture
Kobe Steel Ltd. and China’s Angang Steel Co. Ltd., a leading subsidiary
of Anshan Iron & Steel Group Complex, will 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 in Anshan, Liaoning Province. Production is scheduled to
begin in early 2016. The continuous annealing line will make cold-rolled
high-strength steel with a tensile strength of 590 MPa or higher.
Angang, which will own 51% of the joint venture, will supply the
substrate coils.
