OREANDA-NEWS. August 23, 2011. Recently, the investment of 1.08 billion RMB yuan TISCO Daming Metal Products Co., Ltd. Processing Center project groundbreaking ceremony was held in stainless steel industrial park, Taiyuan. This is another key project of TISCO during the implementation of the deployment of provincial government to accelerate the extension of industrial chain, to build a world-class stainless steel base and deep processing base of new materials. It has great significance for TISCO to accelerate transformation across the development, and to promote the realization of the change from "material processing" to "processed material", reported the press-centre of TISCO.
 
Jiangsu Daming Metal Products Co., Ltd. was established in 2002, mainly engaged in steel processing, marketing and distribution, and set processing and distribution centers and branch offices in Wuxi, Tianjin, Hangzhou, Wuhan, Ningbo and other places. It equipped with international advanced stainless steel processing facility, is the largest stainless steel processing enterprise. In 2010, its steel sales volume is up to 480,000 tons, sales income 9.0 billion RMB yuan. It ranked 388 among the top 500 enterprises of China's manufacturing industry published in September 2010. On December 1, 2010, the company was successfully listed in Hong Kong Stock Exchange (Da Ming International Holdings Limited), became the first listed company in stainless steel manufacturing services industry.
 
Joint venture of TISCO and Daming processing center project will rely on the production capacity and brand effect of TISCO, make use of advanced and innovative processing center management business model, to build a stainless steel deep-processing-based service-oriented manufacturing company, a steel industry value chain, and an integrated development demonstration base of stainless steel industrial. It is planned that, by 2015, the JV will lead China's manufacturing industry with stainless steel processing capacity of 50 million tons and sales income of 8.0 billion RMB yuan, and will enhance the ability and strength of the park.
 
At present, TISCO is working with leading domestic and foreign processing companies to discuss cooperation projects, and the initial investment intention is nearly 5 billion RMB yuan. Prior to that, another three companies move-in TISCO stainless steel industrial park. Among them, the Taiyuan Wales Technology Co., Ltd. is a leading producer of air-source heater technology, Hai Yuan Pump (Taiyuan) Co., Ltd. is the leading producer of stainless steel water supply equipment and technology, and Taiyuan Heng Feng Stainless Steel Co., Ltd. is a competitive producer of high-grade stainless steel cutlery and utensils. Three companies' total investment is more than 70 million RMB yuan, annual capacity is more than 10,000 ton stainless steel.