SHANGHAI, Jun. 24 (SMM) –Beijing Zhongke Sanhuan Hi-Tech Co. inked an agreement with Hitachi Metals, Ltd. on June 18 to establish a JV dedicated to NdFeB production, it said in a statement filed to the Shenzhen Stock Exchange on June 19.
It is planned that the JV will start mass production in 2016, with initial annual output target of 2,000 tonnes and ultimate annual output goal of 6,000 tonnes.
The JV is named as Hitachi Metals Sanhuan Magnet (Nantong) Co. Hitachi Metals will hold 51% stake in the JV, and the rest 49% by Zhongke Sanhuan.
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