Baosteel Group issued a press release on November 5, saying that it had recently signed a contract with the Haimen municipal government of Jiangsu Province to build the largest medium and high-grade magnetic material processing center in China.
Baosteel Group stated that it will build a 50,000-ton magnetic material project in Haimen, Jiangsu in the second phase. The project covers an area of ​​about 140 acres, of which an investment of about 310 million yuan in the first phase, and strive to be completed and put into operation in 2012; all projects are scheduled to be completed by 2015. After the project is completed and put into operation, Baosteel Haimen Base will become a high-grade magnetic material processing center in China and even the world.
The magnetic company under Baosteel Group has formed a complete industrial chain on the comprehensive utilization of steel byproducts and renewable resources. At present, the company annually produces more than 20,000 tons of magnetic materials and its sales revenue is nearly 400 million yuan.
According to public information, magnetic materials are widely used in telecommunications, automotive electronics, and green energy as an electromagnetically conductive medium, and are an important basic functional material for modern industry.
Baosteel Group stated that it will build a 50,000-ton magnetic material project in Haimen, Jiangsu in the second phase. The project covers an area of ​​about 140 acres, of which an investment of about 310 million yuan in the first phase, and strive to be completed and put into operation in 2012; all projects are scheduled to be completed by 2015. After the project is completed and put into operation, Baosteel Haimen Base will become a high-grade magnetic material processing center in China and even the world.
The magnetic company under Baosteel Group has formed a complete industrial chain on the comprehensive utilization of steel byproducts and renewable resources. At present, the company annually produces more than 20,000 tons of magnetic materials and its sales revenue is nearly 400 million yuan.
According to public information, magnetic materials are widely used in telecommunications, automotive electronics, and green energy as an electromagnetically conductive medium, and are an important basic functional material for modern industry.
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