EMG buys 65% Qinghai Wutong stake

Mar 19, 2013 | 09:03 AM |

Tags  ferrosilicon, Erdos Metallurgy, EMG, Qinghai Wutong

SHANGHAI — Erdos Metallurgy Group Co. Ltd. (EMG), China’s largest ferrosilicon producer, has purchased a 65-percent stake in Qinghai Wutong (Group) Industry Co. Ltd., increasing its capacity by 250,000 tonnes per year.

"It cost over 400 million yuan ($64.3 million) to buy the stake in Wutong," an EMG executive, who declined to be named, told AMM sister publication Metal Bulletin. "Acquisitions and mergers will become the main trend in industry integration, and Wutong is just the first step of our strategy."....





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