On April 2, Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) announced that its net profit for the first quarter this year is expected to reach RMB 550 million ($88.42 million).
In 2012 and 2011, Ansteel recorded respective net losses of $663 million and $2.146 billion, as previously reported by SteelOrbis. In order to reverse this loss-making situation, Ansteel targeted improvements in management and operations, focusing on issues including raw material resource allocation, sales strategy and production cost control.
Source:
http://www.steelorbis.com/steel-news/latest-news/ansteel-returns-to-profit-in-first-quarter-750463.htm
