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Handan Steel, Great Wall Motor Ink Auto Plate Agreement

Posted on: Tue, 24 Nov 2009 06:29:00 EST

Symbols: HDISF, GWLLF

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HANDAN, Nov 24, 2009 (SinoCast Daily Business Beat via COMTEX) --
HDISF | Quote | Chart | News | PowerRating -- Handan Iron & Steel Co. (Handan Steel), an arm of Hebei Iron & Steel Group, and Great Wall Motor Co., Ltd. (SEHK: 2333) just signed an agreement about their cooperation in trial production certification of plates for automotive use.

The two sides, both based in the northern Chinese province of Hebei, will join hands in a full scale, concerning the actual application ability of auto plates in such fields as compressing and moulding performance, surface quality, welding performance, and painting quality.

Great Wall Motor, with total assets of CNY 10.7 billion, is one of the largest private automakers nationwide. With three categories of products, namely sedans, SUVs, and pickups and SUVs, the automaker is capable of producing 400,000 complete vehicles as well as core parts like engines, and gear boxes.

Handan Iron & Steel has paid much attention to the development of its new products. The steelmaker is capable of making 80 percent of steel used in a complete vehicle.

Source: www.shihua.com.cn (November 24, 2009)

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