Ouyi Yihong Iron Core (Jiaxing) Co., Ltd. is a foreign-funded joint venture established by Japan’s Itochu Corporation and the company’s Itochu Marubeni Iron & Steel Co., Ltd. and Italy’s EURO-GROUP SPA. enterprise. The company was formally established in Jiaxing on April 18, 2016 with a total investment of 39 million US dollars, a registered capital of 13 million US dollars, and a floor space of about 23,400 square meters. The company's business scope is mainly for the manufacture of large and small motor cores. Products are mainly used in home appliances, automobiles and generators, rail transit and other industries.