Chongqing Iron And Steel To Bid For 72% Equity Of Xingang Changlong Logistics

- Dec 20, 2020-

Chongging Iron and Steel announced on the evening of December 17 that the company intended to purchase 60% and 12% equity of Chongqing Xingang Changlong Logistics Co., Ltd. held by Chongging Qiancheng Industry Development Co. Ltd. and Minshena Shippina Co. Ltd. respectively throuah online auction. The company obtained 28% equity of Xingana Changlong through online auction in 2019. and if this auction is successful this time, it will achieve a wholly-owned holdino.According to the relevant person in charge of Chongging lron and Steel, Xingang Changlong Wharf is located in the factory area of Chongaina lron and Steel Companv, adiacent to the raw material wharf, and is the main waterway for the company's finished products. The acauisition of the above-mentioned ecuity helps the company's unified scheduling and coordinated operation. improves efficiency and reduces costs. conformina to the company's business philosophy of "increasina scale, adjusting structure, and reducing costs"At the same time accordina to the company's current financial status and capital situation. Chonggina lron and Steel has the ability to purchase. This deal is conducive to advancina the construction of the company's 10 million-ton steel base, improving the industrial chain, optimizing resource allocation. and building the most competitive steel production base in the southwest reaion, which is in line with the companv's develooment.strategy.

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.