On May 12, another achievement in deepening strategic cooperation was confirmed by Ansteel Group and ThyssenKrupp, German. ThyssenKrupp Steel Europe, Germany will buy 12.5% direct stock right of Ansteel Chongqing High-strength Auto Sheet Co., Ltd. under Ansteel Group to jointly invest and build Chongqing High-strength Galvanizing Auto Sheet Project. Before, ThyssenKrupp and Ansteel have already had a joint venture ---------TKAS Auto Steel Company Limited (Tagal).
 
In October, 2014, Ansteel Group and ThyssenKrupp signed strategic cooperative agreement in Beijing to establish strategic cooperative partnership. The two parties have had extensive cooperation in chemical process, mining and beneficiation equipment, material handling equipment, slag grinding system, coal chemical industry, waste water utilization, steel, auto parts and components manufacture etc..
 
Ansteel Chongqing High-strength Galvanizing Auto Sheet Project started construction in August 2013. And Ansteel Chongqing High-strength Auto Steel Co., Ltd. with the registered capital of 100 million yuan was established in March 2014. According to the new agreement between the two parties, Pansteel Xichang Steel and Vanadium Company under Ansteel Group, Tagal and ThyssenKrupp Steel Europe hold 50%, 37.5% and 12.5% shares respectively in Ansteel Chongqing High-strength Auto Steel Co., Ltd.. The line with design capacity of 450,000t/a introduces foreign high-end hot galvanized plate production technology and mainly produces high-strength, high-quality auto sheet and hot forming galvanizing products. Orientating the products towards high-end auto sheet, the quality and specification will reach international first-class level. It’s expected to put into operation in October. The project is not only beneficial for Ansteel Group to optimize type structure and promote transformation and upgrading, but also has a great significance in further perfecting localized supply chain of auto industry in Chongqing.