Tag: General Steel
General Steel announces strategic restructuring
The Board of Directors of General Steel Holding, a non-state-owned steel producer in China, has approved a strategic restructuring plan designed to accelerate the company's business transformation.
The transformation includes implementing additional cost-cutting programs at Longmen Joint Venture, selling the company's stake in General Steel Special Steel Pipe Joint Venture Company (Pipe JV), and reconfiguring the company's steel manufacturing facilities and assets to facilitate expansion into logistics and Internet-of-Things businesses.
During the fourth quarter of 2014, the company sold its stake in the Pipe JV. General Steel, Tewoo Group sign MOU
General Steel Holdings, a non-state-owned steel producer in China, signed a memorandum of understanding (MOU) with Tewoo Group, a Fortune Global 500 company, to co-develop bulk commodity e-commerce business.The MOU establishes a long-term strategic partnership to mutually pursue business opportunities in bulk commodity e-commerce, asset leasing, and financing. General Steel signs supply agreement with Rio Tinto
General Steel Holdings, a non-state-owned steel producer in China, announced that its principal manufacturing facility, Shaanxi Longmen Iron and Steel Co. (Longmen Joint Venture), signed a supply agreement with Rio Tinto Iron Ore Asia for procurement of imported iron ore in 2014, commencing from April.