EMG buys 65% Qinghai Wutong stake
Mar 19, 2013 | 09:03 AM
SHANGHAI Erdos Metallurgy Group Co. Ltd. (EMG), Chinas 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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