NEWS AND EVENTS » CLN and Shanghai Baosteel form a Joint Venture in China
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CLN and Shanghai Baosteel form a Joint Venture in China

CLN S.p.A. is pleased to announce that on February 29th its subsidiary, MW Italia S.p.A. has finalized an agreement with Shanghai Baosteel International Economic and Trading Co., Ltd to form a Joint Venture to manufacture steel wheels for passenger vehicles and light and heavy duty commercial vehicles. The new production facility will be built in Chongqing area in China.
The transaction is a further step in the long term strategy of MW, a major steel wheels European producer, to grow its steel wheel business globally. Baosteel, the most important Chinese steel producer and one of the bigger steel players worldwide, is already present in the wheel business in China. The agreement foresees a newCo set-up – Chongqing Baosteel-MW Wheels Co. Ltd - and the construction of a new production plant in the crowded area of Chongqing. The joint venture will allow both parties to better meet their Customer needs, offering world class technological products and services, by combining the best practices and know-how of each partner.

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