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China Steel partners Baosteel in Changshu JV
click rate:2346 issue time:2007-03-10 08:12
Feb. 5, 2007 (China Knowledge) – China Steel, Taiwan's leading steel manufacturer, on Monday said it had taken a 10% stake for US$1.5 million in a joint venture led by the mainland's Baoshan Iron and Steel (Baosteel).


The investment in the steel distribution firm, located in Changshu in the eastern Chinese province of Jiangsu, was made through China Steel's wholly owned subsidiary China Steel Global Trading, China Steel vice-president LM Chung said.


He said Baosteel holds a 45% stake in the joint venture, while China's Jiangsu Baixue Electric Appliances had 30% and Van Shung Chong Holdings of Hong Kong owned the remaining 15%.