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Chinese Shougang to acquire Qianan Steel
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Reportedly, Chinese Beijing-based Shougang announced its reorganization written report draft on May 18th to acquire Qianan Steel for RMB18.3 billion.
It’s known that Qianan Steel posted operation revenues of RMB29.745 billion in 2011, surging significantly by 60.1% year on year. Also, its net margin soared by 195.5% to RMB783 million and its net assets income rate was at 4.5%.
Moreover, Qianan Steel expected its net margin would rise to RMB790 million in 2012.
News Date
5/21/2012 5:21:59 PM
reported by
Mark Wang
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