Open

Coming up

Don't miss

Replay


LATEST SHOWS

TALKING EUROPE

Nigel Farage, Leader of the UK Independence Party

Read more

TALKING EUROPE

Endocrine disruptors: Is the EU doing enough to protect its citizens' health?

Read more

WEB NEWS

Israelis taking bomb shelter selfies

Read more

THE INTERVIEW

Pavlo Klimkin, Ukrainian Foreign Minister

Read more

THE INTERVIEW

Raed Fahmi, former Iraqi Minister of Science and Technology

Read more

IN THE PAPERS

Germany's World Cup title

Read more

FASHION

Paris, Haute Couture Fall/Winter 2014-2015

Read more

BUSINESS DAILY

Farnborough air show takes off but F-35 jet is grounded

Read more

IN THE PAPERS

Bastille Day celebrations

Read more

  • France commemorates WWI centenary on Bastille Day

    Read more

  • In pictures: 2014 World Cup historic moments

    Read more

  • Kremlin mulls 'retaliatory strikes' after death of Russian civilian

    Read more

  • Boules and booze: Bastille Day à la New Yorkaise

    Read more

  • Senegal honours the soldiers who fought for France in WWI

    Read more

  • Clashes erupt in Paris as thousands march to support Palestinians

    Read more

  • Shipwrecked Costa Concordia successfully refloated

    Read more

  • Germany defeat Argentina 1-0 to win fourth World Cup title

    Read more

  • Paris’s Bastille Day fireworks ‘a homage to victims’ of WWI

    Read more

  • Thousands flee northern Gaza after Israeli warning

    Read more

  • Major differences remain as deadline looms in Iran nuclear talks

    Read more

  • Rival Libyan militias exchange heavy fire at Tripoli airport

    Read more

  • French military to extend Mali 'counterterrorism' operations into Sahel

    Read more

ArcelorMittal in $729 million venture with Chinese firms

©

Latest update : 2008-06-30

The world's largest steel producer ArcelorMittal will set up an automotive steel joint venture with the Chinese Hunan Valin Group and Hunan Valin Steel Tube and Wire Co., according to one of the firms.

Steel giant ArcelorMittal and its Chinese partners have agreed to set up a five-billion-yuan (729-million-dollar) automobile steel joint venture, one of the Chinese firms said.
  
Hunan Valin Steel Tube and Wire Co. will have a 34-percent stake in the joint venture while ArcelorMittal and Hunan Valin Group will each own 33 percent, Hunan Valin Steel said in a statement to the Shenzhen Stock Exchange on Saturday.
  
The joint venture -- Valin ArcelorMittal Automotive Steel Ltd. -- will be located in Hunan province of central China and have an annual capacity of 1.2 million tonnes of steel plates for automotive production, the company said.
  
The project is still subject to regulatory approval, it said.
  
ArcelorMittal is the world's largest steel producer.

Date created : 2008-06-30

Comments

COMMENT(S)