Beijing Pancheng Vanadium Trade Co., Ltd., a joint venture between Shenzhen-traded Panzhihua New Steel & Vanadium Co., Ltd. (SZSE: 000629) and Hebei-based Chengde Xinxin Vanadium & Titanium Co., Ltd., started formal operation in Beijing, reported local media on November 4.
The venture, with total registered capital of CNY 200 million, is 51% owned by Panzhihua New Steel by an investment of CNY 102 million and 49% owned by Chengde Xinxin by CNY 98 million.
The new company will mainly focus on the sale of the partners' vanadium products in both the domestic market and the global market.
Besides the outward processing of vanadium slag, the joint venture will be responsible for the trade of some special alloy products including tungsten, molybdenum, and niobium both at home and abroad.
Based on the abundant vanadium resources and huge production capacity of both companies, the joint venture will help them build a greater presence in the world's vanadium industry
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