Axaltas latest design and fabrication facility in Beijing will be closed in 2019.
The company is also planning to cut back on production in the country.
Axaltals latest manufacturing facility in China will be shut in 2019 due to China’s “economic reforms” The US has a history of helping to create a strong manufacturing base, but the US is also facing an economic slowdown in China.
The US and China are both struggling to balance their economies in the wake of a global economic crisis.
AxAltas latest production facility in the Chinese city of Tianjin, which was originally set to be the headquarters of its Axaltal factory, has been sold.
The new facility will be the only manufacturing facility for the company.
The Chinese government recently approved plans to build a new US embassy in Tianjin.
AxALTAs latest facility in Tianjian, which has a manufacturing base of about 20,000 workers, will also be closed down in 2019, the company announced.
The Tianjin factory, which is about 3.8 million square feet, was designed to meet US standards for high-strength steel.
AxALts most recent facility in Qingdao, which produced a number of Axaltos new products, is also slated to be closed.
It will be sold.
China has become one of the world’s top exporters of low-quality goods, and a lack of domestic manufacturing has left many Americans feeling the effects of the economic downturn.
China is one of two major markets for the US market, with the other being China, where many US companies rely on trade to bring in foreign products.