Vilka Steel Rope Products Company is a joint venture between WISCO and American Steel Rope Group Corporation (WRCA).
The joint venture company introduced first-class wire rope production equipment, combined with the advantages of WISCO high-quality wire rod resources and the brand, technology, market and management of American wire rope group WRCA, and the products were put into the domestic high-end wire rope market to replace imports. Therefore, WISCO borrows the brand and sales network of American wire rope group to explore foreign markets and enhance international competitiveness.
The joint venture company signed an agreement on June, 2006 12 and started operation. The registered capital is 50 million US dollars, the total investment of the first phase project is 99 million US dollars, and the annual output of high-end wire rope is 50,000 tons, with an output value of about 700 million yuan, including 2,000 tons of bridge cable, 3,000 tons of EM cable wire rope, 0/8,000 tons of mine wire rope and 3,300 tons of special crane wire rope.
Grieg, president of WRCA, said at the promotion meeting that before that, WRCA was the largest wire rope manufacturer in North America. Now, WRCA is building the most advanced and largest wire rope production base in China.
At present, the company has completed the installation of pickling line, 1 1 wire drawing machine, 6 stranding machines and heat treatment line, and has preliminary conditions for trial production. It is estimated that the total output will be 6,046 tons in 2008 and will exceed 40,000 tons in 2009. According to the strategic plan, the production capacity of the joint venture company will reach 50,000 tons in the first phase, 75,000 tons in the second phase, and the sales revenue will reach more than 800 million yuan.