Anyang Iron & Steel to invest RMB102 million to set up silicon steel subsidiary
2022-09-26 18:03:46 [Print]
Anyang Iron & Steel announced on September 23 that, it intends to cooperate with Bao Tou Weifeng New Material Limited Company to set up a joint venture named Henan Angang Longdu Electromagnetic New Material Technology Co
. , Ltd . in Zhoukou, Henan with a registered capital of RMB200 million (USD27 . 92 million) . Anyang Iron & Steel's currency contribution to the new company is RMB102 million (USD14 . 24 million) only, which accounts for 51% of the shareholding . The businesses of the joint venture include production and sales of high magnetic induction oriented silicon steel and non-orientation silicon steel; new material research and development and technical services, etc.