Hebei Steel Group agrees to increase stake in Duferco to 51 percent
Wednesday, 19 November 2014 16:59:27 (GMT+3)
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Shanghai
Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group has announced that on November 18 it signed an agreement to increase its stake in Swiss-based Duferco International Trade Holding to 51 percent.
In March 2013, Tangshan Iron and Steel Co. (Tangsteel), a subsidiary of Hebei Iron and Steel Group, had signed an agreement to acquire a 10 percent stake in Duferco International Trade Holding, the world's biggest steel trader, in a move aimed at further expanding Tangsteel's presence in overseas markets.
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