Guangzhou JFE Steel Sheet Changes Local Partner

JFE Steel announced on Thursday the firm’s partner in Chinese automotive steel making joint venture, Guangzhou JFE Steel Sheet (GJSS) changed from Guangzhou Iron and Steel Enterprises Holdings to Guangzhou Steel Sheets. The Chinese new partner controls 50% shares of GJSS as Guangzhou Iron and Steel.

Guangzhou Steel Sheets with 3.25 billion yuan capital is controlled 51% shares by Baosteel’s wholly owned company, Baosteel Zhanjiang Iron & Steel while 49% held by Guangzhou Iron and Steel.

GJSS appointed Guangzhou Steel Sheets’ chairman Zhou Shi Chun to chairman. The firm started operation of No.2 continuous galvanizing line (CGL) with 400,000 tonnes of annual capacity in early April to add cold rolling mill with 1.8 million tonnes, continuous annealing line with 1 million tonnes and No.1 CGL with 400,000 tonnes.