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Article: Magang acquires 71 percent of Yangzhou Burwill Coil.
- Article from:
- China Business News
- Article date:
- November 23, 2006
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Magang acquires 71 percent of Yangzhou Burwill Coil
Shanghai. November 23. INTERFAX-CHINA - Ma'anshan Iron and Steel Co.
Ltd. (Magang), China's ninth largest steelmaker, signed an agreement with Burwill Coil Center (Yangzhou) Co. Ltd. (Burwill Coil) to acquire a 71 percent share in the company.
Burwill Coil is a wholly-owned subsidiary of the Hong Kong-listed Burwill Holding Ltd. It is mainly engaged in high-value-added steel products processing and distribution in the city of Yangzhou in Jiangsu Province.
Magang, the listed arm of its parent company, will buy a 71 percent share of Burwill Coil for RMB ...