thyssenkrupp Steel Europe enters steel wheel JV with Chinese partners

29th June 2018 | 0 Comments
 
thyssenkrupp Steel Europe enters steel wheel JV with Chinese partners
The joint venture contract was signed in Hangzhou, China on 22 June (Photo: thyssenkrupp Steel AG)

Under a joint venture contract signed on 22 June, thyssenkrupp Steel Europe will partner with Chinese companies to produce steel wheels, including lightweight hot-formed models, for the local automotive industry. China’s leading steel wheel manufacturer, Jingu Wheel, will hold a 51 per cent share in the joint venture, thyssenkrupp Steel Europe 34 per cent and Ansteel Iron and Steel Group 15 per cent. China’s competition authorities are now examining the tie-up, and thyssenkrupp anticipates the deal’s finalisation within the next few months.

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Category: International News

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