SHANGHAI, Apr. 1 (SMM) - Tongling Nonferrous Metals Group Co. is setting up a joint venture company with French copper strips manufacturer Griset S.A.S. to meet the growing demand from China’s electronic industry.
Registered capital for the joint venture, Griset Tongguan Electronic Materials Co., is 65.2 million yuan ($10.6 million) with Griset contributing 60% and Tongling, 40%, Tongling said in a filing to Shenzhen Stock Exchange today.
The company is designed to make 3,000 tpy copper and copper alloy rolls a year for China’s high tech market, replacing imports of similar products, it said.