Tonghua Steel to start production at new CRC facility on July 1

Thursday, 10 June 2010 12:27:36 (GMT+2)

Jilin-based Chinese steel producer Tonghua Steel has announced that its cold rolled coil project with a designed annual capacity of 1.1 million mt will be put into production on July 1.

Built with a total investment of RMB 2.9 billion ($425 million), the new CRC facility will use Tongshua Steel's own hot rolled super-thin strip steel as feedstock, producing high-quality cold rolled sheet, hot and cold galvanized coil, pickled coil and silicon steel. Output will be used in sectors including automotive and farm machinery, and will be used to manufacture highway guardrails.

The project is expected to achieve sales revenue of RMB 4.4 billion ($645 million), a gross profit of RMB 380 million ($55.71 million) and a pre-tax profit of RMB 126 million ($18 million), all on an annual basis.

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