Taiwan’s CSC to invest in new autoparts company in China

Taiwanese steelmaker China Steel Corp (CSC) will invest NT$350 million ($11.3 million) in a new automotive parts company in China to expand its auto steel sales channels in the Asian nation.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

The investment will see CSC holding an indirect stake of 26.5% in Chongqing Auto Parts, a new joint venture company that will be dedicated to the manufacture of autoparts in Chongqing city in south-west China, CSC said on Wednesday June 24.

Out of the total capital, NT$218 million ($7 million) will be invested through Honley Auto Parts, a CSC subsidiary established last year in Taiwan, while the remaining NT$132 million ($4.3 million) will come from its Singapore-based subsidiary China Steel Asia Pacific Holdings.

CSC said it plans to expand its investment in the autoparts supply chain in the future through Honley Auto Parts’ research and development technology.

Last year, CSC chairman Jo-chi Tsou told Steel First that auto steel accounted for around 10% of the company’s sales and that there were projects with car manufacturers in both Taiwan and China for the development of new high-strength, lightweight steel products.

What to read next
The publication of Fastmarkets copper concentrates TC index, cif Asia Pacific was delayed on Friday March 26, due to a reporter error.
After a month-long consultation period, Fastmarkets has refined the delivery terms for its international nickel sulfate price assessments, with Japan and Korea now the only accepted locations.
After an extended consultation period, Fastmarkets has amended the specified brands in its cobalt standard grade and cobalt alloy grade price assessments.
A growing focus by consumers on Scope 3 carbon emissions is putting raw materials, such as bauxite and alumina, in the spotlight
Fastmarkets invited feedback from the industry on the pricing methodology for cobalt sulfate, spodumene and graphite price assessments via an open consultation process between April 13 and May 18, 2023. This consultation was done as part of our published annual methodology review process.
Fastmarkets proposes to amend the specification of its Chinese metallurgical coke export price assessment.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.