Foshan Baosteel Stainless Steel project commissioned
According to recent news in the market,
Baosteel International, Ningbo Baoxin
Stainless Steel and
Baosteel International South Company have jointly invested in Foshan
Baosteel Stainless Steel
Distribution Company project.
In the first stage, the new company will process 80'000 tons of
stainless steel per annum. In the second stage, the company will process 300'000 tons of
stainless steel and the annual sales revenue of the company is expected to reach Yuan 5-6 billion ($604-725 million).
The new company, which is expected to start operations in June 2005, will be the largest specialty
stainless steel process and
distribution center in
China.