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."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here