14
Dec
08:27
Shangang Group receives control of Yinshan Section
Laiwu Iron & Steel (Laigang), a subsidiary of Shandong Iron & Steel (Shangang) Group, has signed an agreement to transfer 100% equity of Yinshan Section Steel to Shangang, Kallanish notes.
Shangang Co., the listed arm of Shangang Group, intends to contract with the latter for the continued custody of Yinshan Section. In 2011, Shangang Co. began operating Yinshan Section, which remained under the ownership of Laigang.
This is another step towards the merge…
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