Chongging Iron & Steel acquires Qianxin Energy for more than RMB800 million
Chongging Iron & Steel announced on the evening of July 15 that the company and Chongging Qianxin Group Co., Ltd. signed a "Property Rights Transaction Contract to purchase 100% eauitv of Chongaing Qianxin Eneray Environmental Protectior Co. Ltd. at a price of approximatelv 837 million vuan (USD120 million).The data shows that the registered capital of Qianxin Energy is about 526 million yuan, which is a self-provided power plant supported by the "Chongging lron and Steel Implementation of Energy Saving and Emission Reduction Environmental Protection Relocation Proiect" (approved by the Municipal Development and Reform Commission in 2007) The fuel used is all from Chonggina lron and Steel's blast furnace and converter gas, and all the electricity produced is supplied to Chongging Iron and Steel.Chongging Iron and Steel stated that the purchase of shares of Qianxin Energy can ensure that the companv's generator sets and production maintain a high degree of coordination, and ensure the full recycling of surplus gas, which is in line with the companv's business development needs and develooment strategies.
Cangzhou Steel Pipe Group (CSPG)Co.,Ltd.
No.92 JieFang East Road ,Cangzhou City, Hebei,P.R.China.
CSPG has more than eighteen years history company which located in Lecong Iron and Steel World, a well-known steel distribution center in China, with superior geographical position and convenient water and land transportation.
We are a direct-selling manufacturer specializing in the research and development of spiral steel pipes, steel spiral pipes, anti-corrosion steel pipes inside and outside. Since its inception, the company has been guided by a brand-new thinking of steel pipe product market based on the business philosophy of honesty, pragmatism and knowledge-seeking.