HBIS and Posco to form joint venture for automotive sheet metal in China

HBIS Group and Posco signed an agreement to establish a joint venture in Hebei, China, to produce sheet metal for the high-end automotive market. The venture will use HBIS's cold rolling facility in Laoting, Tangshan. Financial details were not disclosed.

“The pair penned an agreement to establish the firm in HBIS's home province of Hebei, the state-owned Chinese partner said in a statement today without disclosing financial or shareholding details.”yicaiglobal.com

• 1 source
• yicaiglobal.comChina's HBIS, Korea's Posco Unite to Tackle High-End Auto Metal MarketDou ShicongDec 10, 2019

Summarized from public sources; check the original articles before acting on it.