Beijing Auto buying mill stake to secure feed

Nov 28, 2007 | 03:09 PM | Hongmei Li

Beijing Automobile Investment Holdings Co. has agreed to buy a stake in Beijing Shougang Co.'s Shunyi cold-rolling mill in order to secure supplies for its automotive subsidiary.

Beijing Automobile will pay 520 million yuan ($70 million) for a 20-percent stake in the 1.5-million-tonne-a-year mill, Beijing Shougang said Wednesday.....

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