It is reported that Wuhu Veisco Material Technology Co Ltd the steel products distribution center for Cherry Auto held ceremony of putting into production on the morning of November 18th in Wuhu Economic & Technological Development Zone.
Mr Deng Qilin Chairman of China Iron & Steel Association and GM of Wuhan Iron & Steel Co Ltd, Mr Yin Tongyue Chairman of Cherry Auto and Two Officials from local Government Mr Li Meng and Zhao Xinqun presented the ceremony.
The distribution center is jointly invested by WISCO, Cherry Auto and Hubei HuiTong Industry & Trade Group Co Ltd, and built to be the cooperation platform of WISCO and Cherry which mainly engages in steel products processing, distribution, storage and trades aiming to meet the steel demand of Cherry over 30 types of autos.
As per report, the center designed to producing auto parts for 800,000 vehicles started construction in June 2008 and put the firstly finished line into operation in June 2009.
According to construction plan, the budgetary investment of the first phase of the center was CNY 160 million used to build up 6 production lines with expected capacity up to 400,000 tonnes of steel products per year. In the second phase, the investors planed to add laser welding facilities.
(Sourced from MySteel.net)
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