Arcelor, Bao, Nippon start Shanghai joint venture

Newswire

PARIS, Dec 23 (Reuters) - Arcelor , the world's largest steelmaker, said on Tuesday it was launching a joint venture in Shanghai with China's Bao Steel and the Nippon Steel Corp. for automotive steel production. The venture, which should start delivering to auto industry customers in early 2005, will have an annual production capacity of 1.7 million tonnes of flat carbon steel, Arcelor said in a statement. The new entity will be 50 percent owned by Bao Steel, 38 percent owned by Nippon ...

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