Shanghai STAL Precision Stainless Steel Co. Ltd. announced that it is planning a further expansion of its precision stainless steel strip operations in Shanghai. The plans could include an additional 36,000 metric tons per year to its current capacity of 55,000 metric tons per year.
"The increased capacity would allow STAL to meet the demands of its customers and the growing Asian market for world class quality precision rolled stainless steel strip. We expect to finalize our plans by the Spring of 2015. Any decision to expand would be implemented as soon as possible. STAL is completing the feasibility study and would expect to seek PRC government approvals after a final ¡®go¡¯ decision is made by the STAL Board of Directors in 2015. We anticipate that we would be in commercial production in late 2017¡±, said Mr. Yanger Xu, the General Manager of STAL.
STAL is a joint venture between ATI Flat Rolled Products (Allegheny Ludlum, LLC) and BaoSteel Group, and is the leading producer of premium quality precision rolled stainless steel strip in China. STAL is a finishing facility producing world class quality thin gauge up to 48 inches (1200 mm) wide precision rolled stainless steel strip.
Baosteel Group company is the most competitive and most modernized iron and steel complex in China, with its primary operation in iron and steel including major product lines, namely carbon steel, stainless steel and special steel, applied in industries such as automobile, household appliances, petrochemical, manufacture of machinery, energy, transportation, metalwork, aeronautics and astronautics, nuclear power and electronic instruments. In 2013, Baosteel achieved steel output of 45.04 million tons and ranking the 4th among the world¡¯s iron and steel enterprises.
ATI Flat Rolled Products is a division of Allegheny Technologies Incorporated (NYSE:ATI) which is one of the largest and most diversified specialty materials and components producers in the world with revenues of over USD 4Billion in 2013.