September 07, 2008

Chonggang to acquire 11 small size steel plants

It is reported that Chonggang Group plans to acquire eleven small sized iron and steel companies in Tianjin with an amount of more than CNY 1 billion and transfer their capacity of iron and steel melting into Chonggang, bringing Chonggang’s capacity from 3 million tonne per year at present to more than 6 million tonnes per year and sale income from CNY 10 billion per year to CNY 30 billion per year.