It is reported that Jiangsu Province-based Chinese steel producer Huaigang Special Steel Co a subsidiary of Shagang Steel Group plans to merge two of its subsidiaries, ie Huaiao Steel and Huaitie Steel into Lihuai Steel another subsidiary of Huaigang Special Steel.

Accordingly, Huaigang Special Steel will hold a 75% stake in the restructured Lihuai Steel which will have a registered capital of CNY 726 million. Production of the restructured company will include bearing steel, spring steel, pinion steel, low alloy steel, and common carbon steel.

(Sourced from SteelOrbis)
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