Chinalco Daye Copper Sheet & Strip Co., Ltd was officially set up in Huangshi city of Hubei province on October 28. 51 percent shares of the company is owned by Aluminum Corporation of China(Chinalco) and the remaining shares owned by Hubei Daye Nonferrous Metals Co., Ltd and other investors. With registered capitals of 340 million yuan, the company will mainly operate a 100,000tpy high-precision copper sheet & strip project. With a total investment of 1.55 billion yuan(USD192 million), the project was launched in February 2004. Construction of the project is scheduled to come to an end within 30 months. The leading products of the project will be oxygen-free copper strip, connector assembly and down-lead frame materials used in electronic, automobile, electric appliance and machinery industries. Currently, the supply of these products is in shortage and thus China needs to import large amount of the products to meet its demand.
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