On August 8, Baoshan Iron & Steel Co., Ltd. (Baosteel), Baowu Aluminum Technology Co., Ltd. (Baowu Aluminum), and Kobe Steel, Ltd. officially agreed to establish Baosteel-Kobe Aluminum Automotive Sheet (Shanghai) Co., Ltd. [tentative name]. The joint venture agreement was signed in Tokyo, Japan.
The newly established Baosteel-Kobe Aluminum Automotive Sheet (Shanghai) Co., Ltd. [tentative name] will have a capital of approximately 900 million RMB (about 18 billion yen) and will be headquartered in Shanghai. Kobe Steel will hold a 50% stake, while Baosteel and Baowu Aluminum will jointly hold the remaining 50%. This joint venture will produce and sell aluminum sheets for automotive manufacturers in China. The three parties aim to leverage their respective strengths in production, technology, and marketing to establish a high-quality production system for aluminum body sheets for automobiles. The venture will also support Baowu’s comprehensive solution SMARTeX for new energy vehicles and align with the global trend of green development in the automotive industry.
The next step for the joint venture will be to seek approval from relevant regulatory authorities in various countries.
[Source- 上海有色网] 宝钢股份、宝武铝业与神户制钢拟共同成立宝钢神钢汽车铝板(上海)有限公司 https://news.smm.cn/news/102895570