Tianjin Lianfa Precision Steel Inc., jointly established by Taiwan-based E-United Group and Hong Kong-based Weishun Corporation with an overall investment of $40 million, was officially put into operation on June 16, 2010.
The new company is located in the western district of Tianjin Development Zone, on premises covering a total area of 70,000 square meters. With six high precision processing lines, the company will be able to process 400,000 mt of stainless steel plate, galvanized steel coil and pre-painted steel per year, with the total annual production value expected to exceed RMB 1 billion ($147 million). All products will be sold to the northern Chinese market.
To date, E-United Group has invested $1.2 billion in the steel industry on the Chinese mainland.