BEIJING, Jan. 2 /PRNewswire-Asia-FirstCall/ -- China Fire & Security Group, Inc., a leading industrial fire protection product and solution provider in China, announced today that the Company has signed two total solution contracts with Anshan Iron & Steel Group Corporation (Ansteel), for a total value of approximately USD$4.4 million.
Anshan Iron & Steel Group Corporation is headquartered in Anshan City, Liaoning Province, China. With annual production capacity of 32 million tons of iron and steel, Anshan is one of the top three large-scale, state-owned iron & steel companies in China.
Under the first contract, China Fire will serve as a total fire protection solution provider for the tandem rolling factory of Anling Iron & Steel Company Limited, one of Ansteel's subsidiaries. The contract is valued at approximately $2.8 million. China Fire will be responsible for implementing the entire fire protection project including engineering, procurement, construction, monitoring, technical guidance and maintenance. China Fire will provide a turn-key fire protection system that mainly includes the Company's analog linear fire detectors, multi-frequency infrared flame detectors, fire- alarm monitoring and control system, and water mist fire-extinguishing system. These systems will ensure that the entire production facility is safe from fire hazards and fully compliant to the new fire codes for the iron and steel industry. The project is expected to be completed within the next nine months.
The second contract, valued at approximately $1.6 million, will also serve as a total fire protection solution provider for the silicon steel factory of Ansteel. China Fire will also be responsible for implementing the entire fire protection project and providing the Company's patented products, including analog linear fire detectors, multi-frequency infrared flame detectors, fire- alarm monitoring and control systems, and water mist fire-extinguishing systems. This project is expected to be completed within the next nine months.
China Fire believes that silicon steel is the most important soft magnetic material in use today. Its applications are widely used in generators, motors, and transformers. Continued growth in electrical power generation in China has resulted in the development of better steel to decrease wasteful dissipation of energy (as heat) in electrical apparatuses and the minimization of the physical dimensions of the increasingly powerful equipment now demanded. As one of the top three silicon steel suppliers in China, Ansteel benefits significantly from increasing domestic demand, the development of an advanced product line and competitive pricing compared to other global competitors.