Reportedly, the Chinese steelmaker Tangshan Steel, a subsidiary of Heibei Steel has inked agreement to acquire 10% stakes at Swiss-based Duferco International Holding, the world's largest steel trader, in order to expand its business fields in overseas markets. It's learned that the two parties have signed a steel products structural payment agreement valued US$1.2 billion. According, Tangshan Steel will be able to sell its steel products abroad. Meanwhile, the two companies started the cooperation in 2009. Tangshan Steel exported 67,000 tons of steel products to Duferco in 2009 and the volumes increased to 1 million tons in 2012.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63606&division=A6
