Jiangxi Rare Earth & Rare Metals Tungsten Group Holding and H.C. Starck expand tungsten business in China
Ganzhou, China, August 14, 2012. - Today, Jiangxi Rare Metals Tungsten Group Holding Co. Ltd. (JXTC), one of China's largest tungsten mine operators, and H.C. Starck, one of the world's leading manufacturers of technology metals, celebrated the groundbreaking ceremony for their tungsten joint venture in Ganzhou City, Jiangxi Province, China.
Starting in late 2013, this plant will be producing tungsten metal powders and carbides exclusively for the Chinese market. Along with representatives of the two joint venture partners, more than 500 guests from politics and business including representatives of the Jiangxi Provincial Government and the city of Ganzhou attended the groundbreaking ceremony.
"This alliance between two giants of the tungsten industry is another successful strategic cooperation integrating into world economy," said Zhong Xiaoyun, President and CEO of JXTC. "This cooperation plays to the competitive strengths of both partners and creates a new model of close cooperation between Chinese and German high-tech companies."
"This joint venture is our largest project to date in China and the core of our growth strategy in Asia. I am pleased that we could win an experienced and reliable partner like JXTC for this project", said Andreas Meier, President and CEO of the H.C. Starck Group, during the event. "We will primarily supply the products of our joint venture to the hard metal manufacturers for the automotive and engineering industries as well as to suppliers for the mining and energy industry in China", he added. “Demand for higher quality tungsten products continues to increase in China. With our joint venture, we will be able to serve this market over the long term.”
The previous preparatory work for the joint venture has been strongly supported by government authorities. "We are convinced that the joint venture will contribute to resource preserving and sustainable development of the Chinese tungsten industry and, as a result, will be a business success for all parties involved," explained both Zhong and Meier. "The joint venture will also strengthen H.C. Starck's raw material supply chain. And the facility will create about 400 new jobs which will boost the economic and social development of Jiangxi Province."
Ganzhou, also called "the tungsten capital of the world", is one of the largest cities in the Province of Jiangxi, which has large, natural-tungsten deposits. Advanced tungsten products are used as high performance materials in a variety of growth industries, including specialty cutting tool manufacturing, wear parts for mining, tunnel and read construction, as an alloy metal, and for components in the aerospace and medical engineering industry.
Jiangxi Rare Earth & Rare Metals Tungsten Holding Group Co., Ltd is a large provincial state-owned enterprise with 50 wholly-owned and holding enterprises and 7 main stock shared enterprises distributed over more than 30 counties of 18 cities of 9 provinces. It enjoys one-hundred-year history in the fields of mining, smelting, processing and possesses a large rare industry system of 5 common developing segments, which are tungsten (molybdenum, bismuth, tin), rare earth, secondary metal, nickel and cobalt, and non-mining industry.
About H.C. Starck
The H.C. Starck Group is a leading global supplier of technology metals and advanced ceramics, and serves growing industries such as the electronics, chemicals, automotive, medical technology, aerospace, energy technology, and environmental technology industries, as well as mechanical engineering and tool manufacturers. H.C. Starck operates 12 state-of-the-art manufacturing facilities located in Europe, America, and Asia, with 2,816 employees worldwide (as of Dec. 31, 2011). Further information on the company is available at: www.hcstarck.com/press; Company Statement on Raw Material Procurement.
Jiangxi Rare Metals Tungsten Holding Group Co. Ltd.
Mr. Wang Jianming
Vice Chief of Foreign Affairs and Trading Division
Ms. Ulrike Reich
Director Corporate Communications
+49 89 500 942 155