Messer Griesheim (China) Investment Co., Ltd. has signed a cooperative Agreement with Panzhihua Iron & Steel (Group) Company (PG in short) and PG's subsidiary – Panzhihua New Steel & Vanadium Co., Ltd. (PSV in short).

 

Messer and PSV will establish a Joint Venture named Sichuan Pangang Messer (PMG in short). Messer will inject the capital of 300 mio RMB to hold the majority share of 60% of the new company and the new company will have 500 employees.

 

The new company PMG will invest in new air separation units in phases to meet the development needs of PSV by supplying oxygen, nitrogen and argon. Meanwhile, the new company will make it possible for Messer to cooperate with PG in a wider area.

 

PSV, a Chinese listed company, is the biggest rail-used steel manufacturer in China and No.3 vanadium products manufacturer in the World. PG, the biggest shareholder of PSV, is the largest Steel and Iron Group in southwest of China. 

 

It is a second JV between Messer and PG. Messer has a JV with PG's subsidiary – Chengdu Iron & Steel Co., Ltd. in Chengdu, who has just celebrated its 10 years anniversary. The new company will further strengthen Messer's business relationship with PG.

 

"We feel honored to have chance to work with China's local leading steel group and keep a long-term sustainable business relationship," Stefan Messer, Messer Group's CEO, remarked in the Agreement Signing Ceremony.