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homepage >> Magnesium News
Strategic cooporation agreement signed by Applied Magnesium International and Shanxi Dongyi Coal Electricity Aluminium Group
2010-5-12 

During the ceremony on 23th March for celebrating the completion of phase one project of Tianjin Dongyi Magnesium, both Mr Mu Jinhui, president of Tianjin Dongyi Coal Electricity Aluminium Group and executive from applied magnesium International(AMI for short) announced of having signed an agreement of a close strategic cooperation for the two companies. Both parties decided to join hands to develop in magnesium industry.

Shanxi Dongyi Coal Electricity Aluminum Group, located in Xiaoyi county, Shanxi province, is considered by Sunlight Metal as a company which has the longest industrial chain in magnesium industry in China.The Group's total assets is 1 billion yuan with more than 3,000 employees.

The company is a group of private enterprises with integration of electric power, metallurgy, primary magnesium and magnesium alloy, building materials and coal chemical industry. The capacity of magnesium is 30,000 tons and magnesium alloy production capacity is 20,000 tons. Tianjin Dong Yi Magnesium Products is the Group's new investment of 370 million RMB in magnesium alloy business in Tianjin city, covering an area of 67000 square meters.

Applied Magnesium International Limited, formally started on 22th July 2009, is a joint venture of Timminco Limited, TIM accounting for 19.5% , listed in Canada, and Winca Tech Limited for 80.5%. Timminco will end its magnesium smelting, magnesium alloy processing and related application products business. And this newly-built AMI will be a  globally leading company in magnesium anode, magnesium extrusion and special magnesium alloy areas. Three production sites located at Hebi of Henan province, Linyi of Shandong province and Mexico, will support AMI¡¯s manufacturing.

No detailed structure about the agreement have been disclosed. However, Both of the parties told Sunlight that their co-operations are based on complementary advantages and will have a depth cooperation to further consolidate their position in the global magnesium market. Sunlight sees this movement representing the direction for the future magnesium industry development. It will become the best model for resources integration and win-win cooperation in magnesium industry, by merging the material and financial advantages from Tianjin Dongyi and AMI¡¯s processing technologies, brands and marketing position.

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