According to Bloomberg news, because the demands of food package cans is expected to substantially grow in China. Japanese Nippon Steel and Wuhan Iron and Steel Group will jointly invest about 293 million to set up a joint venture which manufacture tin plates in Wuhan City,Each side hold 50% stake in joint venture and annual output estimate reach 20 million tons tin plates. Summer of 2013, the company will officially put into operation and are mainly targeting the Chinese market in central and western regions.
Nippon Steel said in a statement it owned another tin plate joint venture located at Guangzhou in China which was founded in 1994,Nippon steel cooperation hold 25% stake, but it did not give further details about this plant. In addition, Nippon Steel said it also has one Joint venture with Arcelor Mittal (Arcelor Mittal) and Baoshan Iron and Steel Company (Baoshan Iron & steel Co.,) in Shanghai which mainly manufacture automotive panels,steel plate for auto.
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