# China Oriental Group and ArcelorMittal plan joint ventures for steel and soft magnetic materials

China Oriental Group and ArcelorMittal entered into agreements to establish two joint ventures: an upstream joint venture for hot-rolled coil substrates and a downstream joint venture for new energy soft magnetic materials. Each company will hold 50% equity in each venture.

- Type: Partnership
- Announced: 2024-10-16
- Status: announced
- Products: hot-rolled coil substrates, new energy soft magnetic materials
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [ArcelorMittal](https://endata.com/companies/292.md) (partner)
- [China Oriental Group](https://endata.com/companies/21259.md) (partner)

## Sources

- [news.futunn.com](https://news.futunn.com/en/post/48770951/china-oriental-group-00581-plans-to-establish-a-joint-venture), 2024-10-16: "China Oriental Group (00581) announced that on October 16, 2024, the company and its major shareholder, ArcelorMittal, entered into an upstream joint venture agreement and a downstream joint venture agreement."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.