Ansteel-Bekaert JV Steel Cord Plant Opens

Last May Belgium’s Bekaert and Chinese steel producer Ansteel established a strategic partnership, and several months later set up a 50/50 joint venture called Bekaert Ansteel Tire Cord (Chongqing) Co., Ltd. Almost a year after the partnership was first announced, the companies have celebrated the official opening of their 150 million euro joint steel cord production plant in Chongqing, China.

The new facility is intended to meet rising local tyre industry demand for steel cord, and at present 130 people are employed at the site. This number, says Ansteel and Bekaert, will grow in line with market demand and the realisation of further investment phases.

The official ribbon cutting ceremony took place on April 8 in the presence of Ms. Tong Xiaoping, vice mayor of Chongqing, Mr. Zhang Xiogang, chairman of Ansteel, and Baron Paul Buysse, chairman of Bekaert. “This new plant is a first step in our strategic partnership, and will open up new markets for Ansteel in partnership with Bekaert,” stated Ansteel’s Mr. Zhang. “I am confident that our partnership, that brings together the operational excellence and leadership position of both companies, will support China’s industrial growth.”

Baron Buysse added: “The Bekaert Ansteel joint venture here in Chongqing demonstrates our commitment to support the westward development objectives and actions of the Chinese Government, and further strengthens our position in China. We highly value the strong support from the authorities who create a stimulating environment for growth, both for Bekaert and its customers.”