On February 1, Zhejiang Province-based Chinese special steel producer Juili Special Material Technology Co., formerly known as Jiuli Stainless Steel Pipe Co., announced that it plans to invest RMB 6 million ($955,000) to establish a wholly-owned sales subsidiary in Shanghai. The name of the subsidiary will be Jiuli Special Material Technology (Shanghai) Co.
The main activity of the new subsidiary company will be sales of the products of its parent company, including metal materials, stainless steel bars, stainless wire rod, stainless steel pipe, stainless flat rolled steel,and others.