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POSCO and HBIS Break Ground on Automotive Sheet Joint Venture
01/10/2022 - POSCO and HBIS Group announced last Friday that work has begun on a new US$647 million sheet mill located in China’s Hebei province, reports the Reuters news service.
The joint-venture plant will produce approximately 1.35 million metric tons annually of steel sheet for automakers such as Toyota, Honda, Nissan, Hyundai, BMW and Volkswagen.
"After the project is completed, it will become the largest single-scale high-end auto sheet supplier in China," commented HBIS chairman Yu Yong, according to Reuters.
Reuters has more here.
