Taigang Stainless Steel Co. Ltd, a subsidiary of Taiyuan Iron & Steel Co. Ltd, plans to set up a cold-rolling stainless steel company with a number of domestic partners in Taiyuan, capital of North China’s Shanxi Province. The aim is to integrate both the upstream and downstream operations of domestic stainless steel participants to increase efficiency, producing more stainless steel and enabling the development of new products. Located in the Taiyuan High and New Technology Development Zone, the new company will have a registered capital of USD 94.20 million. Taigang Stainless Steel will provide 97.4% of capital. In addition, it will inject its cold-rolled stainless steel production facilities into the new company. The new company, tentatively named Shanxi Taigang Stainless Steel Technology Co. Ltd will be majority-controlled by Taigang Stainless Steel. Minority shareholders include Jinchuan Nonferrous Metals Corp. and Beijing Iron and Steel Research Institute.
