December 02, 2008

Taigang to set up stainless JV with TPCO

It is reported that Taigang Group, China's largest stainless steel producer has signed a framework agreement for strategic cooperation with Tianjin Pipe Corporation on September 17th 2007. Under the agreement, both would invest CNY 750 million to set up a 50-50 JV and the former would expand its stake to 51% to 55% after completing the second stage project.

Taigang also intends to extend cooperation with TPCO in seamless pipe sector in the future as TPCO is the world's biggest seamless pipe maker. Taiyuan vows to vault into Fortune 500 and become the world's most competitive stainless producer.

(Sourced from MySteel.net)