It is reported that a cooperation agreement has been signed between BaoSteel Metal Ltd. and local government of Shandong Yantai to establish a wheel production project in Fushan a district of Yantai lately. And this represents BaoSteel has taken a new pace in auto parts processing industry.

 

As the rapid development of Chinese automotive industry, auto parts processing industry also sees good momentum these years. Back to three years ago BaoSteel took over Shanghai Wheel Factory entering the field of deep processing of wheel parts. In three years the reformed BaoSteel Wheel Company continued to improve its deep processing capability and has expanded clients such as Shanghai GM, Shanghai Volkswagen, Shanghai Automotive, JAC and hippocampus automobile. It also has established good relations with Guangzhou Automobile Group, Shenyang Brilliance, Chery Automobile and other users.

 

Today after careful and comprehensive research BaoSteel Metal Ltd. decided to establish a new wheel deep processing base in North in order to speed up its strategic layout and open up the north market. The signed wheel project in Shandong Yantai will has CNY 50 million registered capital and an annual output of 1.25 million wheels. When established it will obtain BaoSteel Metal’s advanced production technology in wheel deep processing and mature management experiences on production organization, total quality control and after-sales service.