04
Aug
13:09
Tewoo starts reorganisation
The Tianjin People's Court has formally accepted the reorganisation of Tianjin Materials (Tewoo) this week, Kallanish notes from local state news. After defaulting on its debt, the Tianjin state-owned company sought a new way to survive.
The current debt of Tewoo Group is about CNY 240 billion ($34.37 billion). The group has more than 200 companies and its main assets are concentrated in 44 companies. More than 70 companies will be closed, while the …
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Anonymous
Very good overview of the weekly steel market.
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