11
Jan
08:58
Magang confirms Asco Industries venture
Eastern China’s Ma’anshan Iron and Steel (Magang) has finalised an agreement with France’s Asco Industries to establish a wire rod joint venture in Ma’anshan to supply the automotive sector. The first 200,000 tonne/year phase could be commissioned in 2018, Kallanish notes.
Asco Special Steel will be 75%-owned by the French firm and will produce high-end automotive grade wire rod including gear, spring and bearing steels. Magang …
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