Baosteel Wheel Co. sells 3.95 million steel wheels in 2010

According to Shanghai-based Baosteel Wheel Co., a subsidiary of Chinese steel giant Baosteel Group, in 2010 Baosteel Wheel Co.'s production volume and sales volume of steel wheels were respectively 3.92 million wheels and 3.95 million wheels, up 58 percent and 71 percent respectively year on year. Thus, Baosteel Wheel Co. accomplished its production target of 3.8 million steel wheels for 2010 which it had set at the beginning of the year in question.
 
As SteelOrbis previously reported, the construction of Baosteel Wheel Co.'s new production base in the Baoshan district, Shanghai is continuing. Upon completion of the construction in 2011, Baosteel Wheel Co.'s annual aggregate steel wheel output will reach 4.5 million wheels.
 
Meanwhile, Baosteel Wheel Co. is also building another steel wheel production base in Yantai, Shandong Province, having broken ground in June 2010. Baosteel Wheel Co. expects to invest a total of RMB 400 million ($60 million) in the Yantai base, with RMB 140 million ($21 million) being invested in the first phase. Upon completion, the Yantai production base will have an annual output of 1.25 million steel wheels.