Walsin Lihwa spends $80 million to build new mill in China
According to the news, Walsin Lihwa, one of the leading Taiwanese stainless steel companies, planned to spend US$80 million in Yantai, China, to expand its stainless steel industry.
In August 2nd, 2019, Walsin Lihwa announced that it would invest US$80 million to build an integrated production line in Yantai, even though the stainless steel industry was in a difficulty.
The current market environment prompted the firm to look for solutions, such as the continuous rising capacity of China and Indonesia, a new barrier caused by the trade war between China and the US, as well as China's tax rebate policy.
Walsin Lihwa’s production line in Yantai would eliminate the need for outsourcing and further upgrade its stainless steel products' quality.
The construction of the plant was expected to be completed by the end of 2020 and begin to yield benefits in 2021.
