Sino-German Steel Joint Venture Launched

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Last updated at: (Beijing Time) Wednesday, May 15, 2002

Sino-German Steel Joint Venture Launched

A Sino-German joint venture specializing in galvanized steel sheet production was launched on Wednesday in China's northeastern port city of Dalian.

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A Sino-German joint venture specializing in galvanized steel sheet production was launched on Wednesday in China's northeastern port city of Dalian.

The company, ANSC-TKS Galvanizing Co. Ltd. (TAGAL), is funded by ANSC, one of China's leading steel companies, and German steel company Thyssenkrupp Sahl AG. Investment in the venture totals 180 million U.S. dollars.

Each company owns 50 percent of the shares in the joint venture, the biggest of its kind in China.

Located in the Dalian Development Zone, it has the capacity to produce 320,000 tons of galvanized steel sheets for cars and 80, 000 tons for electrical household appliances.

The company is scheduled to start production in June of 2003.

A spokesman for Anshan Iron and Steel Group Co., the major shareholder of ANSC, said the joint venture was capable of producing enough galvanized steel for cars in China.

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