On the 3rd, China National Steel Corporation signed a strategic cooperation framework agreement with Rio Tinto and an extension agreement for the joint venture of the company. Under the agreement, the two parties will continue the Chana iron ore project in the Pilbara region of Western Australia, during which 50 million tons of iron ore resources will be mined from the Chana iron ore mine.

According to the agreement, the Sino-Steel and Rio Tinto joint venture will be extended for approximately five years. The iron ore products produced by the joint venture company will be sold by the Sinosteel Group in the Chinese market. The two sides also signed a strategic cooperation framework agreement to further strengthen the cooperation between the two sides in the field of iron ore in the surrounding areas of the Qana mining area, such as joint exploration, research and evaluation.

It is understood that Sinosteel and Rio Tinto signed the Shana project agreement in 1987. Chaona Iron Mine is one of the earliest and largest investment projects of Chinese enterprises in Australia and has become China's most influential iron ore overseas. The raw material base, the original output of the project is 200 million tons. Up to now, the Chana iron ore has supplied 183 million tons of high-grade iron ore to China.

According to the original agreement, the joint venture period will reach a total of 200 million tons of iron ore output in the second quarter of 2012. After the joint venture expires, both parties can negotiate on the extension of the project. Accordingly, Sinosteel and Rio Tinto started the extension negotiations at the end of 2004. After hard work, the two parties finally reached an agreement on the extension of the joint venture company. The two parties said that this move marks China's largest steel producer and service provider and the world's leading The establishment of a strategic partnership between resource extraction and mineral suppliers.

It is known that China is currently Rio Tinto's largest single market. Rio Tinto's annual export of iron ore in China amounts to 140 million tons, accounting for 60% of Rio Tinto's global share, accounting for two-thirds of its total in Western Australia. Rio Tinto's CEO Sam Werner said that if China's demand for iron ore continues to grow in the future, Rio Tinto will provide more high-quality iron ore to the Chinese market.

LG Sigma Elevator Spare Parts

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Sigma Elevator Company is a subsidiary of Otis Elevator Korea (OEK) in South Korea for all overseas/export markets. It was founded in 2000.

Starting in 1968, "Goldstar" elevators, and later on, "LG" elevators, were counted among the world's top elevator brands. With the beginning of this new millennium, that legacy lives on through the birth of "SIGMA" elevators.

SIGMA Elevator Company will continue on with its mission of supplying elevators and escalators to more than 50 nations worldwide through its global network of 11 sales companies, 2 offices, and 52 agents or distributors.

SIGMA Elevator Company is dedicated to providing its customers with the best quality products and services. SIGMA elevators feature unmatched safety, ride comfort, and modern design. SIGMA escalators and moving walkways are held to similar safety and comfort standards and are integral parts of our modern urban aesthetics.

Changwon factory, Korea, the main factory of SIGMA Elevator, has long been a well-established name in the global elevator industry. SIGMA`s Dalian factory in China produces elevators & escalators to meet the demands of the local and worldwide markets as well.

SIGMA Elevator Company is committed to increasing customer value through a sharp focus on product innovation and customer satisfaction. With technology developed over the past 30 years, an enduring innovative spirit, and enthusiastic attitude towards providing customer value, Sigma Elevator Company stands by its product and service lines with confidence.

Sigma currently has businesses in more than 75 countries worldwide, and subsidiaries in five countries; Hong Kong (China), Vietnam, Thailand, Malaysia and Singapore.

In the United States, Sigma elevators were distributed by CemcoLift, which was a historic elevator company bought by Otis and based in Hatfield, PA. However, in 2012 CemcoLift has gone bankrupt and replaced by a new company called Minnesota Elevator Solutions.

It's headquarter, factory and testing tower are located in Changwon, South Korea, which are also operated by Otis Elevator Korea. It also has a secondary factory in Dalian, China, opened in 1998 to meet demands on Chinese elevator market.

In 2014, Sigma had a partnership with EXPRESS Elevator Co., Ltd., an elevator company based in Suzhou, China as well as a subsidiary of Otis. In 2016, Express/Sigma opened their headquarters in Suzhou, China

LG Elevators was the elevator and escalator division of LG Electronics. It was acquired by Otis in 1999 and was later known as LG-OTIS Elevator Company.

LG changed its name from GoldStar in 1994 after GoldStar merged with Lucky Chemical. In 1999, it was acquired by Otis Elevator Company, later known as LG-OTIS Elevator Company from 2000 until 2003, when it was renamed to OTIS-LG Elevator Company. Later in 2006, OTIS-LG was again renamed to Otis Elevator Korea.

LG-OTIS Elevator Company (later OTIS-LG Elevator Company then Otis Elevator Korea) was a joint venture company between Otis and LG Electronics` elevator and escalator division, LG Elevators in South Korea. It was formed in 2000. The brand was renamed to OTIS-LG Elevator Company in 2003 and later Otis Elevator Korea in 2006, where it is currently known as that in South Korea




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