.gif?width=220&height=200&mediaprotectionhash=b13da841472e6e7ed500ee35df2a350aaf53d75246118b33ea2095cc7e9a3fc4&ext=.gif)
Bekaert and Xinsteel Break Ground for New Plant in China
06/18/2012 - On May 28, Bekaert and Xinsteel broke ground for a new wire production plant in Xinyu, Jiangxi Province, China.
On 28 May, Bekaert and Xinsteel broke ground for a new wire production plant in Xinyu, Jiangxi Province, China.
The new plant, called Bekaert (Xinyu) New Materials Co., Ltd., will be located in Jiangxi Xinyu High-Tech Industrial Park Development Zone and will cover 75,000 square meters. It will house the spring wire manufacturing platform which is now located in two separate factories.
The plant is expected to come into operation in the third quarter of 2013, and will serve domestic customers mainly, with spring wires for various applications.
Bekaert formed a partnership with Xinyu Iron & Steel Co., Ltd (Xinsteel) in December 2011 through the set-up of a 50/50 joint venture, with the aim of combining their complementary technologies and applications to open up new opportunities in the markets.
Mr. Xiong Xiaoxing, chairman of Xinsteel, said: “This new plant is a substantial step in our strategic partnership, and will create more business opportunities for Xinsteel in partnership with Bekaert. I am confident that our partnership will bring both of us leading positions in our markets.”
Mr. Mark Goyens, president of Bekaert Asia, added: “It is particular[ly] meaningful for the establishment of Bekaert Xinyu New Materials Co. Ltd. and marks another big step forward in our long-term China strategy since 20 years now. It also shows our commitment, as well as our determination, to better serve our customers in this market.”
Bekaert is a global technological and market leader in advanced solutions based on metal transformation and coatings, and the world's largest independent manufacturer of drawn steel wire products. Bekaert is a global company with headquarters in Belgium, employing 28,000 people worldwide.
Xinyu Iron & Steel Co., Ltd (Xinsteel) is located in Xinyu, Jiangxi Province, China. The State-Owned Enterprise includes steel, mining, equipment and construction activities. Xinyu Steel employs 28,000 people and reported total sales of CNY 40 billion in 2011.
