Steelmaker to produce in China

LNM Group announced plans to construct a US$100 million steel plant in Yinkou, Liaoning Province. The Netherlands-based steelmaker will also establish marketing and purchasing business centers in China. The manufacturing facility is scheduled to begin production in 2005 and will include a galvanized plate operation with annual production capacity of 400,000 tons. A cold-rolled steel sheet facility will be added later and is planned to have an annual production capacity of 200,000 tons. LNM exported US$2 million worth of steel to China in 2003. The group set up an office in Chengdu, Sichuan Province recently. It has offices in Beijing, Guangzhou, Guangdong Province and Urumqi, Xinjiang Uighur Autonomous Region. The firm has plans to open an office in Shanghai.