German equipment maker SMS Meer doubles its Shanghai capacity

By Richard Fu | March 18, 2014, Tuesday |

Online Edition

German equipment maker SMS Meer, which supplies the steel industry, doubled its Shanghai plant as it expects rising demand from Chinese customers which are seeking upgrading.

SMS Meer is fully convinced about China’s development prospects despite many uncertainties in the global economy, Chief Executive Joachim Schonbeck said today while announcing the opening of the second phase of its plant in Minhang District.

The company nearly doubled the capacity of its Shanghai facility with the second phase, which cost about 10 million euros (US$13.9 million). Total jobs at the site will rise to 500 from about 335.

Xiao Zuoguo, China chief of SMS Meer, said an increasing number of Chinese companies in the steel industry, which has been struggling with overcapacity and tiny profit, are turning to high-end equipment and solutions to improve efficiency and make high-quality steel products.

The company’s customers in China include major mills like Baosteel and Wuhan Iron & Steel.

Business Manufacturing

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German equipment maker SMS Meer doubles its Shanghai capacity

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