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Fives and Wisco Sign Cooperation Agreement
05/07/2014 - Fives and Wisco, China’s third largest steel group, recently signed an extensive cooperation agreement.
The agreement initially concerns the creation of a production joint venture in China and the sealing of a contract to supply a steel production line dedicated to the automobile industry.
The new Wisco/Fives joint venture will be based in Wuhan and will give Fives access to local production for the equipment it designs. It will also provide both partners with an access to a local market eager for key high added value technological equipment.
The contract signed by Wisco and Fives involves the supply of a high-end steel strip annealing line for the automobile industry, to equip the new production site built by Wisco at Fang Cheng Gang, South of China. The line will be one of the biggest in the world with a production capacity of approximately 1 million tons per annum and will be equipped with advanced energy and environmentally efficient technologies supplied by Fives.
The new Wisco/Fives joint venture will be based in Wuhan and will give Fives access to local production for the equipment it designs. It will also provide both partners with an access to a local market eager for key high added value technological equipment.
The contract signed by Wisco and Fives involves the supply of a high-end steel strip annealing line for the automobile industry, to equip the new production site built by Wisco at Fang Cheng Gang, South of China. The line will be one of the biggest in the world with a production capacity of approximately 1 million tons per annum and will be equipped with advanced energy and environmentally efficient technologies supplied by Fives.
