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SMS Meer to double capacity at city plant
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GERMAN engineering group SMS Meer, a steel industry supplier, is expanding its Shanghai plant as it looks to tap into rising demand from upgrade-seeking Chinese customers.
The maker of forging machines and section mills is confident about China’s development prospects despite many uncertainties in the global economy, Chief Executive Joachim Schonbeck said yesterday while announcing the opening of the second phase of its plant in suburban Minhang District.
SMS Meer will nearly double 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 335.
Xiao Zuoguo, China chief of SMS Meer, said an increasing number of companies in the domestic steel industry, which has been struggling with overcapacity and meager profit, are turning to high-end equipment and solutions to improve efficiency, reduce emission, and make high-quality products.
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