On October 17, Ansteel Group and Kobe Steel Ltd. held the signing ceremony of cooperative project in Ansteel Exhibition Center to jointly establish Ansteel-Kobe Cold-rolled High-strength Automotive Plate Co., Ltd. and join hands to enter high-end automotive plate market. The establishment of the joint company had an important significance in further improving the market share of Ansteel cold-rolled automotive plate, especially for the high-end and Japanese automotive.
 
According to the related agreements, Angang Steel Co., Ltd. and Kobe Steel Investment Co., Ltd. held the shares of 51% and 49% respectively in the joint company. A new-type water cooling cold-rolled continuous annealing line will be built with the annual capacity of 600,000t in Ansteel Headquarters, mainly producing dual phase (DP) cold-rolled high-strength automotive steel with 590 MPa higher. After putting into operation, the production line will better meet the increasing demand of high-strength plate and improve the market share of Ansteel cold-rolled automotive plate, especially for the high-end automotive plate.