Hunan Valin Steel issues reorganization plan

Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Valin Steel) has announced that through a series of deals it will directly or indirectly take a 100 percent stake in Fortune Securities Co., a 96 percent stake in Hunan Trust Co., a 29.19 percent stake in Jixiang Life Insurance Co., a 100 percent stake in Xiangtan Valin Energy Saving Power Generation Co., and a 100 percent stake in Hunan Valin Energy Saving Power Generation Co. Meanwhile, the mill's steel assets will be transferred to its parent company Valin Group.