H.C. Starck and Jiangxi Rare Earth & Rare Metals Tungsten Group Holding expand tungsten business in China
August 15, 2012
H.C. Starck and Jiangxi Rare Metals Tungsten Group Holding Co. Ltd. (JXTC), one of China’s largest tungsten mine operators, have celebrated the groundbreaking ceremony for their tungsten joint venture in Ganzhou City, Jiangxi Province, China. Scheduled to start operations in late 2013, the new plant will produce tungsten metal powders and carbides exclusively for the Chinese market.
Along with representatives of the two joint venture
partners, more than 500 guests from politics and
business attended the groundbreaking ceremony
“This joint venture is our largest project to date in China and the core of our growth strategy in Asia. I am pleased that we could win an experienced and reliable partner like JXTC for this project,” stated Andreas Meier, President and CEO of the H.C. Starck Group. “We will primarily supply the products of our joint venture to the hard metal manufacturers for the automotive and engineering industries as well as to suppliers for the mining and energy industry in China,” he added. “Demand for higher quality tungsten products continues to increase in China. With our joint venture, we will be able to serve this market over the long term.”
“This alliance between two giants of the tungsten industry is another successful strategic cooperation integrating into world economy,” stated Zhong Xiaoyun, President and CEO of JXTC. “This cooperation plays to the competitive strengths of both partners and creates a new model of close cooperation between Chinese and German high-tech companies.”
The previous preparatory work for the joint venture has been strongly supported by government authorities. “We are convinced that the joint venture will contribute to resource preserving and sustainable development of the Chinese tungsten industry and, as a result, will be a business success for all parties involved,” explained both Zhong and Meier. “The joint venture will also strengthen H.C. Starck’s raw material supply chain. And the facility will create about 400 new jobs which will boost the economic and social development of Jiangxi Province.”
Ganzhou is one of the largest cities in the province of Jiangxi, which has large natural-tungsten deposits. Advanced tungsten products are used as high performance materials in a variety of growth industries, including specialty cutting tool manufacturing, wear parts for mining, tunnel and read construction, as an alloy metal, and for components in the aerospace and medical engineering industry
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]
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