LOS ANGELES (AP) — Metals processor Reliance Steel & Aluminum Co. said Tuesday that its Valex Corp. subsidiary opened a facility in China.
Valex China Co. Ltd. is solely-owned by the Hong Kong joint venture company Valex Holdings Ltd. in which Reliance owns an 88 percent stake.
The Shanghai facility will produce ultra high purity tubes, fittings and valves for the semiconductor, liquid crystal display and solar industries.
The facility will be the first Valex manufacturing plant in China. Valex also has operations in California and South Korea and is a 97 percent owned subsidiary of Reliance.
Reliance shares fell 8 cents to $53.74 in morning trading.