Thomson Financial reported that French metals group Eramet's Erasteel unit will invest EUR 10 million in a high speed steel processing plant at Tianjin in northern China.
Eramet said it would launch the plant to be called Erasteel Innovative Materials during the fourth quarter of this year. It said the it would import wire rod from Erasteel's European production sites and draw it into bars and coils for customers in China and across Asia.
From 2008, Eramet said the new plant would also produce high precision shaped wire for the bi metal band saw market.
