04
Apr
14:28
Jianlong to take control of Eastern Steel
Malaysia’s Hiap Teck has confirmed that China’s Shanxi Jianlong will take a majority stake in its Eastern Steel slabmaking joint venture. Jianlong will end up with 60% of the venture, marking the ambitious group’s first foray into overseas steelmaking capacity, Kallanish notes.
Hiap Teck says it will sell a 20% stake in Eastern Steel to Shanxi Jianlong, part of Jianlong Group, for CNY 225.6 million ($36m). Jianlong has already agreed to buy the…
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Anonymous
Very good overview of the weekly steel market.
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