14
Mar
07:21
Fujian Fuxin receives Formosa Plastics investment
Fujian Fuxin Special Steel, a stainless steel producer in Zhangzhou, will receive $530 million in investment from its shareholder Formosa Plastics Corporation through Sky Dragon Investment.
This capital increase is to help Fujian Fuxin to repay loans and improve its financial structure according to Formosa Plastics’ announcement. Formosa holds 29.16% of Fujian Fuxin. The steelmaker reported losses of CNY 1.93 billion ($268.4m) in its 2023 financial statement…
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Anonymous
Very good overview of the weekly steel market.
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