Nippon Steel Withdraws from Guangzhou Pacific Tinplate Co in China
Nippon Steel Corporation has transferred our 25% equity investment in Guangzhou Pacific Tinplate Co Ltd PATIN to the Guangzhou Hi-tech Investment Group Co Ltd, business partner of PATIN as of the end of December 2020 and have withdrawn from the business.Since starting operations in 1997, PATIN has continued to contribute towards development of the top-grade tinplate market and its demand markets for over 20 years. Recently, the Huangpu District of Guangzhou, in which PATIN operates, has been going through dramatic economic development, and the region is expected to undergo major changes due to upcoming urban development plans. This time’s decision was based on factors such as this.
Nippon Steel will continue to participate in China’s tinplate industry through WISCO-NIPPON STEEL Tinplate Co Ltd.