Chinese Hangzhou steel stocks company plans to build special excellent steel base in large investment

On the shareholders convention of 16th .March,Hangzhou steel stocks Company(600126) passed the technology rebuilding bill of investing 1.37818 million RMB for twenty-eight technology rebuilding items , providing a base for the total production value 4 million ton till the end of 2006. Chairman of the board Mr yuan said that, 'we will form a competitive quality product chain and continually increase the rate of special excellent steel in 2005. ' Chinese Hangzhou steel share company has exported parts products to Japan and Korea auto market with the total production value of 2.779million ton among 70.49% is special excellent steel, developing new product up to 32 kinds in 2004. According to the 2005 technology rebuilding program passed by shareholders convention, 2005 is the important year for expediting special excellent steel base constructing about Chinese Hangzhou Steel share company. Among the whole 28 technology rebuilding items, the important is 10 items such as sinter machine changing and second mixing stuff project,the rebuilding of raw material storing system , technology rebuilding of convertor, 2# casting rebuilding and 3# casting rebuilding etc. According to analysis,currently special excellent steel owe more steady price than screw thread steel and wire. Moreover, special excellent steel is widely specialized in machinery, auto, petrochemistry, construction, home implement, aviation industry and national defence .