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Terra Nostra Subsidiary Adds 310S Stainless to Product Lineup
02/07/2008 - Terra Nostra’s Shandong Quanxin Stainless Steel joint venture is now manufacturing continuously cast 310S-grade stainless steel, with the first production order shipped in January.
Terra Nostra Resources Corp.’s Shandong Quanxin Stainless Steel joint venture is now manufacturing continuously cast 310S-grade stainless steel, with the first production order shipped in January.
“Introducing 310S-grade stainless steel marks a further step in Terra Nostra’s strategy to produce more high-value products, thereby expanding the range of product grades we offer customers and increasing the mix of high-margin, less price-sensitive products,” said Sun Liu James Po, Terra Nostra’s CEO. “Given our continuous casting capability, this development also elevates our competitive standing among stainless steel producers in China.”
Shandong Quanxin’s newly added grade, 310S (known in China as 2520), belongs to the austenitic family of stainless steel materials. Austenitic steels are known for their combination of heat-resistant qualities, anti-corrosiveness, good ductility, and weldability. It is mainly used for heat treatment projects and is applicable for special parts and components in a large variety of furnaces and burners. It has a maximum service temperature of 1200°F, and resists oxidation in continuous service at temperatures up to 1150°F.
“We now have a distinctive edge over many other domestic producers to meet the rapidly growing end-user demand for high-quality grades of stainless steel that is generally being met by imports,” said Sun Liu James Po. “In addition, our investment in advanced production technologies places Terra Nostra at the forefront of cost-efficient production that meets the latest environmental standards and gives us the platform to continue expanding our production to include round rod and welded pipe lines.”
Terra Nostra also noted that it has engaged Lippert/Heilshorn & Associates, a leading independent financial consulting firm specializing in representing small cap growth companies, to implement a comprehensive investor relations program.
Terra Nostra Resources is a leading copper and stainless steel producer in China through its 51% majority interests in two joint venture companies in China. Shandong Terra Nostra Jinpeng Metallurgical Co., Ltd. has existing and under-construction total production capacity of 170,000 tonnes of electrolytic copper and 20,000 tonnes of low-oxygen copper, together with value-added copper rod and wire capabilities. Shandong Quanxin Stainless Steel Co., Ltd. operates a modern stainless steel production facility with a 230,000-tonne capacity casting mill, and a 150,000 tonne rolling mill. The two joint venture companies, with total assets in excess of US$225 million and over 1,000 employees, are located in the highly industrialized coastal province of Shandong, midway between Beijing and Shanghai. Terra Nostra has entered into an agreement to increase its majority ownership in both joint ventures from 51% to 90%.
