China’s Tangshan Iron and Steel Group (Tangsteel) formed a joint venture Thursday with South Korean steel giant POSCO to tap the LED lighting market, Xinhua news agency reported. The new venture, Tangsteel-POSCO LED Co. Ltd., will manufacture energy-efficient and long-lasting LED lighting products. Based in Tangshan city in north China’s Hebei province, the venture will involve total investment of 61.26 million yuan (US$10 million), the report said. It has a designed annual production capacity of 379,000 units of LED lighting products.
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