On May 20, Hong Kong-based Novo Group announced that the output of its tin-coated steel sheet production project in China's Jiangsu Province has reached 15,000 mt since production began in December 2012 up to April 30 this year. In particular, 12,000 mt of products have already been sold in the current year.
Additionally, earlier in the current month Novo Group signed a cooperation agreement with Japan-based Laminate Industry Co. to establish a joint venture in Jiangsu for the production of coated steel sheet, coated aluminum sheet and related products for use in food and beverage packaging. The annual output of the JV is expected to be 60,000 mt, with production operations due to commence in the third quarter of 2014.