SteelOrbis Shanghai
Chinese steelmaker Anshan Iron and Steel Group Corporation recently announced its acquisition of its first overseas steel processing center through the purchase of a 60 percent stake in Italian steel service center Vigano - a move which marks Angang's entry into the global steel processing industry.
Lombardy-based Vigano is mainly engaged in the processing of silicon steel and galvanized coils (sheets), with an annual capacity of 100,000 mt or so. The company also delivers shipments to more than 40 downstream customers through its own distribution and logistics centers. As the most important supplier of CR silicon steel and HDG products for Vigano, Angang has been working in cooperation with the Italian company since 2003.
For Angang, this acquisition marks an important step towards the steel group's global development and helps it get involved in the overseas steel processing industry.
In addition, in the future the trend will be for steel mills to have their own processing and distribution centers. Besides Angang, WISCO, Baosteel, Panzhihua Steel, Magang, and other mills have also taken their first steps in developing steel processing centers over the past several years.