It is reported that on February 17th 2011, Mr Zhang Xiaogang GM of Ansteel Group, signed an agreement with Mr Julian Verden of Stemcor in Brussels for establishing Ansteel British Holding Company and purchasing British USS Machining Center.

London based Ansteel British Holding Company, expected to start operation in March, will purchase 2/3 shareholdings of British USS Machining Center.

According to the agreement, Ansteel Group British Holding Company will lead the macro management and operation in the region on behalf of Ansteel and Stemcor.

Mr Zhang Xiaogang indicated that, purchasing the machining center is beneficial for Ansteel to provide value added services and develop overseas marketing systems, so as to further improve Ansteel brand value.

In late 2007, the Chinese steelmaker formed a joint venture, Ansteel Spain SL, with Stemcor to market steel products in Spain.

(Sourced from Xinhua)