原文：http://shenzhen.chinacompositesexpo.com/en/news-detail-92-11871.htmlMarch 3rd, Shanghai – Baosteel approved the motion proposed by its subsidiary Baowu Carbon Technology Co., Ltd., to establish a joint venture with Wanhua Chemical Group Co., Ltd.


The joint venture is preliminarily named as Zhejiang Baowan Carbon Fiber Co., Ltd., to implement it precursor program situated in Keqiao, Shaoxing, Zhejiang Province. The first phase investment totals 1.626 billion RMB (tax excluded).

Zhejiang Baowan will be registered with 850 million RMB, all paid in cash, among which Baowu Carbon will contribute 434 million RMB and represents 51% of the shares. The rest 49% shares will be contributed by Wanhua.

According to the source, Zhejiang Baowan’s major business will be the production of carbon fiber’s precursor.
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