05
Jan
09:39
CITIC becomes largest seamless steel pipe enterprise worldwide
China’s listed CITIC Pacific Special Steel Group on Thursday announced that subsidiary Jiangyin Xingcheng Special Steel Works has acquired 60% of Shanghai Electric Group Steel Tube Co., Ltd (SEGST).
The two parties signed the property rights transaction contract on Wednesday, and the value is CNY 1.9 billion ($276 million). The move indicates that CITIC now controls 100% of SEGST as the remaining 40% has been purchased in 2021.
SEGST was established by Shan…
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Anonymous
Very good overview of the weekly steel market.
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