A few days ago, Chongqing Baosteel Meiwei Wheel, co, LTD project held the start working ceremony in Chongqing Liangjiang new area fish industry park. The project finished will provide convenient and fast personal service to the customers around, which means Baosteel automobile parts industry development has put forward a solid step.
Signing the investment agreement with Chongqing Liangjiang new area industry development zones committee, Baosteel registered and established the Chongqing Baosteel Wheel co, LTD, establishing by Baosteel international in sole proprietorship. On 29th February, Baosteel international signed the joint venture agreement with Italy Magenetto, with 25 percent of stock rights purchased by Italy Magenetto. The joint venture company was renamed as Chongqing Baosteel Meiwei Wheel Co Ltd, completing the industry and commerce register in November of this year.
The establishment of Chongqing Baosteel Meiwei Wheel, co, LTD project is an important step for Baosteel in automobile parts business development. After the project constructing and put into operation, it will not only produce good quality traditional steel wheel, but also applied the Baosteel high-strength steel to produce light and beautiful vent steel sedan wheel hub replacing the aluminum wheel. The main equipment of the production line was imported from America and Europe, becoming the first autonomously integration in domestic with domestic corollary equipment and imported equipment. On technology, they gained the technology support not only from Baosteel, but also from Italy Magenetto.
