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Wuhan Steel & Chery Auto Finish Steel Distribution Center

Posted on: Fri, 20 Nov 2009 07:28:00 EST

Symbols: WHNIF

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WUHU, Nov 20, 2009 (SinoCast Daily Business Beat via COMTEX) --
WHNIF | Quote | Chart | News | PowerRating -- Chinese steelmaker Wuhan Iron & Steel Co., Ltd. (Wuhan Steel; SHSE: 60005) and Chery Automobile Co., Ltd., a private carmaker in China, just completed a steel distribution center project jointly, so as to support the latter's 800,000-sedan project.

The project, covering an area of about 6.87 hectares, broke earth on June 16, 2008. The first phase is designed to have an annual production capacity of 400,000 tons, and the second phase is composed of advanced processing equipment, such as laser welding devices.

After being completed, the project can better meet the demand of Chery Auto, located in Wuhu, central China, for quality steel for automotive use, and help Wuhan Steel, based in Wuhan, central China, extend its service.

Moreover, it will serve as a new platform for the operation of Wuhu Wisco Material and Technology Co., which was co-formed by Wuhan Steel, Chery Auto, and another partner in 2007. Wisco Material, also located in Wuhu, is mainly engaged in steel processing, distribution, storage, and trade.

Source: www.hexun.com (November 20, 2009)

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