Terra Nostra Announces Joint Venture in China for Industrial Production.NEW YORK CITY New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , N.Y. -- Deal To Produce Copper And Stainless Steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. To Meet Chinese And International Demand Projects 2005 Revenues Of $600,000,000 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. . Terra Nostra Technology Ltd., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TNRL) today announced that it has signed and entered into a Joint Venture Agreement with Shandong Jinpeng Copper Co. Ltd., whereby Terra Nostra will be a 51% partner in a joint venture company to be formed with Shandong Jinpeng Copper Co. Ltd., presently the largest producer of copper in the Shandong Province in China. The joint venture will complete the construction and expansion of the Chinese company's existing facilities, including Shandong Quanxin Stainless Steel Co. Ltd., a large scale modern stainless steel production enterprise, jointly established by Shandong Jinpeng Copper Co., Ltd. and Hong Kong Hanbang Investment Co. Ltd.The facility is projected to commence production during 2005 with a targeted annual output of 180,000 tonnes of stainless steel products, with projected ramp-up sales for 2005 of $324,000,000 USD, and projected full production sales for 2006 of $430,000,000. Stainless steel and copper demand continues to rise. According to the International Stainless Steel Forum, commercial demand for stainless steel is expected to achieve an all-time high of 22.5 million metric tonnes in 2004, an anticipated growth rate of 7.8%. Global copper demand grew by a projected 7.1% in 2004 and is expected to stay on the same pace for 2005, according to UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Warburg. Most of this growth in demand is anticipated in emerging economies and particularly China, currently the world's biggest user of copper at 20% usage of global production. "Foreign investment in China is skyrocketing," said Richard St. Julien, Vice President and Secretary of Terra Nostra. "In the first half of 2004, total foreign investment reached US$53.78 billion, already exceeding that for the whole of 2003, according to PriceWaterhouseCoopers. Terra Nostra is delighted to be forming this partnership to help address the supply/demand differential in the stainless steel and copper markets in China." Shandong Jinpeng Copper Co. Ltd. and its affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. , Shandong Jinwang Copper Co., Shandong Quanxin Stainless Steel Co., Zouping Jinwang Copper Co. and Zouping Regenerated Resources Co. Ltd. will make a fixed asset contribution to the joint venture which will include equipment, buildings, production lines, property use and other productive fixed assets. With this production capability operating under the joint venture company, it will result in one of China's largest copper and stainless steel production companies. Revenues from the copper and stainless steel operations of the joint venture company for year 2005 are projected to be in excess of $600,000,000 based on current copper operations, and the commencement and ramp-up of production of the stainless steel division in 2005. ABOUT TERRA NOSTRA TECHNOLOGY Terra Nostra Technology Ltd. is a biochemical and industrial production company specializing in raising capital for market-driven research and development projects. A publicly traded corporation with its shares listed for trading on the U.S. Over the Counter Bulletin Board under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors TNRL, as well as on the Frankfurt Stock Exchange Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. , the company's head office is located in Montreal, Quebec, Canada. More information on the company can be found at www.tnrgroup.com. ABOUT SHANDONG JINPENG COPPER CO. With over 800 employees, ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9002 certified Shandong Jinpeng Copper Co. Ltd. and affiliated companies is the largest electrolytic e·lec·tro·lyt·ic adj. 1. Of or relating to electrolysis. 2. Produced by electrolysis. 3. Of or relating to electrolytes. e·lec copper producer in the Shandong Province of China, with an annual production capability of 90,000 tonnes.They also produce 40,000 tonnes per year of oxygen-free copper rods, 2150 kg / year of gold, 52,000 kg / year of silver, and additional capacity and product line expansion under way. Founded in 1994, the company's 2003 revenues were $263,633,113 USD with an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of $24,256,620 USD. More information on the company can be found by visiting www.jinpenggroup.com |
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