H.C. Starck and Jiangxi Rare Metals Tungsten Holding Sign Joint Venture
For H.C. Starck the Joint Venture is a crucial element of the company’s strategy to expand its presence in China. Based on the agreements, the joint investment sum will be RMB 800 million (Euro 85 million) to establish two companies based in the Chinese city of Guanzhou. With an installed capacity of 30 000 t/a, by 2012 both companies will be producing approximately 10 000 t/a of advanced tungsten products for the market.
Each partner holds the majority share in one of the two companies: JXTC in the manufacturer of ammonium paratungstate and tungsten oxide; H.C. Starck in the manufacturer of tungsten metal powder and tungsten carbide. The establishment and development of these two joint ventures will support the high-tech development of the tungsten industry in Jiangxi as well as in China. It will also provide additional economic and social benefits to the Jiangxi Province. (05/2011)