16
Nov
05:56
Formosa ignores losses, expands subsidiary's stainless capacity
Taiwan's Formosa Plastics Group has agreed to inject $145.8 million into Fuxin Special Steel, a Formosa subsidiary in mainland China's Fujian province, according to a company announcement on 13 November. The investment is for a 300,000-400,000 tonnes/year stainless steel cold rolling mill which expects to commission in first quarter 2020, Kallanish notes.
Fuxin Special owns around 720,000 t/y of stainless and other crude steel capacity.&nb…
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