Today, Ansteel and Bekaert officially opened a new production plant for steel cord products in Chongqing (China).
Ansteel, a leader in the Chinese steel industry and one of the top steel producers in the world, and Bekaert, global market and technological leader in advanced metal transformation and in advanced materials and coatings, concluded a strategic partnership in May 2008 and subsequently set up a 50/50 joint venture named Bekaert Ansteel Tire Cord (Chongqing) Co., Ltd.
Ansteel and Bekaert decided to invest a total of € 150 million for the construction of the new steel cord plant in Chongqing. The investment takes place in phases.
Chongqing is rapidly transforming into a new automobile metropolis. With the joint venture plant, Ansteel and Bekaert are responding to the rising local demand for steel cord products for tire reinforcement. The plant currently employs 130 employees and will further grow in line with market demand.
The official ribbon cutting ceremony took place in the presence of Mr. Qifan Huang, Executive Vice Mayor of Chongqing, Mr. Zhang, Chairman of Ansteel, and Baron Buysse, Chairman of Bekaert.
Mr. Zhang, Chairman of Ansteel, states: ¡°This new plant is a first step in our strategic partnership, and will open up new markets for Ansteel in partnership with Bekaert. I am confident that our partnership, that brings together the operational excellence and leadership position of both companies, will support China¡¯s industrial growth.¡±
Baron Paul Buysse, Chairman of Bekaert, adds: ¡°The Bekaert Ansteel joint venture here in Chongqing demonstrates our commitment to support the westward development objectives and actions of the Chinese Government, and further strengthens our position in China. We highly value the strong support from the authorities who create a stimulating environment for growth, both for Bekaert and its customers.¡±