Steel producer to more than double output

ZHENGZHOU - China Gerui Advanced Materials Group Ltd, a Chinese maker of high-precision, cold-rolled strip steel listed on the NASDAQ index, started work on Wednesday on production lines that will allow it to make 300,000 tons more of its chief product a year.

The company will spend $60 million to more than double the amount of the steel it can produce annually by the end of the year, said Lu Mingwang, the company chairman and chief executive officer.

High-precision, cold-rolled strip steel is used in food and industrial packaging, cell phones, construction, communication cables, and household decorations, among other things.