Shougang buys into Shanxi peer
( chinadaily.com.cn )
Updated: 2012-09-17
Beijing-based Shougang Group has purchased 90 percent of Shanxi Changzhi Iron & Steel for 500 million yuan, the Beijing Business Today reported August 11.
Shougang will invest 19 billion yuan in Changzhi Steel, raising its annual capacity to 6 million tons by 2012, up from the current 3.6 billion tons.
