SteelOrbis Shanghai
During the coming weeks, German steel producer ThyssenKrupp AG plans to discuss the feasibility of further investing in China with its partner Anshan Steel Co. Ltd. Discussions will focus on the possibility of the establishment of a third galvanizing line in either Anshan or Dalian by the joint venture ANSC-TKS Galvanizing Co Ltd, the products of which would mainly be supplied to the automobile industry.
Meanwhile, the two companies are ready to launch their second HDG production line in China in March, 2008. The No. 2 production line of ANSC-TKS Galvanizing Co., Ltd. will have an annual capacity of 430,000 mt, the same as the No. 1 production line which started operations at the end of 2003. With the increasing demand for high-grade HDG products coming from China's automobile industry, ThyssenKrupp plans to further invest €150 million ($213 million) in China in this field. ThyssenKrupp also added that it plans to invest a total of €500 million in China over the next five years in order to extend its presence in the market for elevators, automobile fittings, industrial services and steel.