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Malaysia’s Kinsteel & China’s
5/20/2020 Spring Industry Exhibition |
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It was reported that Malaysia’s steel manufacturer Kinsteel Bhd and China’s Tianjin Qiangbang Industrial Co., Ltd. has reached an agreement to establish a joint venture to build a steel mill.
Kinsteel’s wholly-owned subsidiary Kin Kee Steel Service Centre Sdn Bhd (KKSSC) was expected to own a 45% stake in the JV, Tianjin Qiangbang will hold a 40% stake, and another Malaysian company will own the remaining 15% stake.
The JV company scheduled to build a mill in March 2021 in Gurun, Kedah, equipped with electric arc furnaces, bar and wire rolling mills, with an annual production capacity of 500,000 tons. The main products included billet, wire rods, spring steel flat bars and laminated lead springs.
Springs Industry Exhibition -The 21st China(Guangzhou)Int’l Spring Industry Exhibition
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