Erasteel has recently commissioned its new high-speed steel drawing shop in Tianjin (Hebei Province). Incorporated under the name of Erasteel Innovative Materials, these 100% owned green-field facilities, which represent an investment of more than 10 M€, imports wire rod from Erasteel European production sites and draw it to customers' size bars and coils. These products will be supplied, on a daily basis, to the top-quality industrial cutting tool market, in China and for export throughout Asia.
Eramet is a French mining and metallurgy multi-national group, enjoying a high reputation in all over the world. Eramet has 15000 staffs in all over the world and its sales volume of last year reaches 3.8 billion. Eramet’s investment in Tianjin will largely boost TEDA’s appeal to enterprises in auto, TT and aviation industry.
Through this investment in China, Erasteel, a subsidiary of Eramet, reinforces its position of worldwide market leader in high-quality high-speed steel, to support the rapid growth of its Asian customers.
A large number of well-known enterprises have crowded to invest in Tianjin Economic - Technological Development Area (TEDA). Under this circumstance, Tianjin reaches 36.57 billion Yuan of fiscal revenue, up 33% in the first quarter of 2008.
