Ansteel and Bekaert open Euro 150M steel cord plant in China

ERJ staff report (RD)

Chongqing, China - Ansteel and Bekaert have officially opened a new production plant for steel cord products in Chongqing, China, the companies said in an 8 April joint statement.

The two firms became partners in May 2008 and set up the joint venture Bekaert Ansteel Tire Cord (Chongqing) Co., Ltd. The new Euro 150 million plant will respond to rising local demand for steel cord products for tyre reinforcement, the statement said. The plant currently employs 130 staff.

“This new plant is a first step in our strategic partnership, and will open up new markets for Ansteel in partnership with Bekaert,” said Ansteel chairman, Zhang Xiaogang.

“The Bekaert Ansteel joint venture here in Chongqing demonstrates our commitment to support the westward development objectives and actions of the Chinese Government, and further strengthens our position in China,” added Baron Paul Buysse, chairman of Bekaert.

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Press release from Anshan Iron and Steel Group Corporation (Ansteel) and Bekaert