The Japanese firm Toyota Tsusho has announced the creation of a joint venture with the Japanese firm Showa Metals, as well as Chinese companies, to establish an automotive dismantling and recycling company in Chengdu China.
According to local press reports, the joint venture will be 30 percent owned by Toyota Tsusho Group, 5 percent owned by Showa Group and Chinese companies will own the remaining 65 percent.
The joint venture is expected to begin construction of an end-of-life vehicle (ELV) recycling facility by the spring of 2012, with construction completed by the third quarter of 2012.
The ELV recycling facility is expected to have a maximum capacity of between 2,000 to 3,000 vehicles per month.
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