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CN - New partner joins JFE in Guangzhou JFE Steel Sheet JV

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FE Steel announced that its investment partner in group company Guangzhou JFE Steel Sheet Co Ltd has changed from Guangzhou Iron and Steel Enterprises Holdings Ltd. to Guangzhou Steel Sheets Co Ltd. All procedures for the change have been completed.

The change has not affected JFE’s investment ratio in GJSS which remains at 50% with Guangzhou Steel Sheets now holding the other 50%. Going forward, GJSS, JFE Steel and Guangzhou Steel Sheets will keep contributing for stable supplies of cold rolled steel sheet and hot-dip galvanized steel sheet mainly to automobile companies.

Guangzhou Steel Sheets Co Ltd (new partner)
Established - December 22 2011
Head office - Yingang Building, 24 Jingang Road, Nansha District, Guangzhou, Guangdong, PR China
Chairman - Zhou Shi Chun
President - Fan Sheng Biao
Registered capital - CNY 3.25 billion
Ownership
51% - Baosteel Zhanjiang Iron & Steel Co Ltd
49% - Guangzhou Iron and Steel Enterprises Holdings Ltd

Guangzhou JFE Steel Sheet Co., Ltd. (after change in partners)
Head office - Wanqingsha, Nansha District, Guangzhou, Guangdong, PRChina
Chairman - Zhou Shi Chun
President - Masaharu Saisu (dispatched from JFE Steel)
Facilities
Cold rolling mill (1.8 million tons/year)
Continuous annealing line (1 million tonnes per year)
No 1 Hot-dip galvanizing line (400,000 tonnes per year)
No 2 Hot-dip galvanizing line (400,000 tonnes per year)
Products - Cold rolled steel sheet and hot-dip galvanized steel sheets Employees - Approximately 700
Plant location - Nansha Development Zone, Guangzhou City, Guangdong Province
Total investment - 990 million USD
Registered capital - 443 million USD
Ownership
50% - JFE Steel Corporation
50% - Guangzhou Steel Sheets Co Ltd



Source - JFE

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