Xinyu Iron & Steel acquires pipemaker Hongdu Steel

Apr 24, 2009 | 10:37 AM |

Chinese state-owned Xinyu Iron & Steel Co. Ltd. has acquired Jiangxi Hongdu Steel Co., according to the provincial government's Web site.

The two companies, both based in Jiangxi province, signed the acquisition framework agreement on April 22, a move in line with the central government's efforts to improve the industry concentration level,....

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