China Baowu Steel to acquire 51% stake in Magang
On May 31, China Baowu Steel Group signed a deal to acquire 51% stake in Magang Group Holding Co., Ltd. which is currently 100% owned by Anhui Provincial State-owned Assets Supervision and Administration Commission, according to a statement made by Maanshan Iron & Steel Co., Ltd. ("the company") on June 2 After the transaction, Baowu will also indirectly hold 45.54% of the shares of Maanshan Iron & Steel, making it the company's controlling shareholder, and the company's actual controller will become State-owned Assets Supervision and Administration Commission. with Magang Group remaining as the direct shareholder.．
Cangzhou Steel Pipe Group (CSPG) Co., Ltd. is a large-sized, key metallurgic enterprise of Hebei Province in North China, whose history dates back to 1994. CSPG currently em/paces six member companies with products varying from SSAW, LSAW, ERW, seamless steel pipes to 3PE pipes, galvanized pipes, casing pipes, etc. A Joint-stock corporation, CSPG occupies an area of 600,000 square meters with a total asset of $530 million.
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Executive standard :DIN30670 DIN30678 CSA Z245 AFNOR nf49-710/711 NACE rp0394/0490 AWWAC 210/C213GB/T9711 API 5L ISO 3183Material: Q235B/Q355BGR A GR B x42-x80 l245-l555
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