Baosteel-NSC Arcelor Automotive Steel Sheets Co. Ltd. Established

Baosteel-NSC Arcelor Automotive Steel Sheets Co. Ltd. jointly invested by Baosteel, NSC and Arcelor--the three steel giants among the world top 500 was set up on August 27, the establishment of which gave birth to China's biggest joint venture specialized in producing automotive steel sheets.

Hu Yanzhao, vice mayor of Shanghai, Wu Xichun, Chairman of China Iron and Steel Association, chairman of NSC, president of Arcelor and top management of Baosteel--Xie Qihua, Liu Guosheng, Xu Lejiang, Ouyang Yingpeng, Ai Baojun, He Wenbo, Ma Guoqiang, Chen Delin and more than 150 representatives of strategic customers such as FAW, SAIC and Dong Feng Motor Corporation participated in the unveiling ceremony held at Shanghai International Conference Center.

Baosteel-NSC Arcelor Automotive Steel Sheets Co. Ltd. (namely the 1800 cold rolling project), located in the plant area of Baosteel Co., Ltd. will produce 1.7 million tons of steel annually, among which 900 thousand tons are cold rolled steel products and 800 thousand tons are hot rolled steel products. Aiming at producing and selling the top grades of automotive steel sheets at maximum capacity, Baosteel, NSC and Arcelor have jointly invested RMB 6.5 billion in the new JV to guarantee its dominate position in the market and to contribute to the development of China's automotive industry.