Italy-based Danieli & C Officine Meccaniche SpA (Danieli), one of the world's leading equipment plant suppliers for the metals industry, said it will significantly increase its investment in China to cash in on the growth in demand coming from the government's efforts to adjust the industry's structure.
The Italian company's total investment in China will reach €130 million ($188 million) by 2012, up from the current €80 million, Matteo Bavaresco, CEO of Danieli China, has told China Daily.
Mr. Bavaresco said the increase is due to the booming demand coming from increased steel production and China's steps to upgrade the industry to meet goals in energy conservation and emission reduction. He continued, "Now there is a trend of more and more small and medium-sized Chinese steelmakers coming to us because they also want efficient equipment to reach energy-saving and emission targets." He added, "For example, our direct reduction iron technology can cut about 50 percent of emissions, compared with traditional technologies."
Danieli China employs more than 1,000 people at its facilities in Beijing and Changshu, Jiangsu Province. It is a market leader in mini-mills, long-product casting and rolling plants, and among the frontrunners in the flat product and iron ore sectors. (sourced steelorbis)