Shandong Province-based Chinese steel producer Rizhao Iron and Steel Co. (Rizhao Steel) has announced that it has acquired a 39.96 percent stake in Chinese medium plate producer Minmetal Yingkou Medium Plate Co., a subsidiary of China Minmetal Corporation.
China Minmetal Corporation owns a 50.40 percent stake in Minmetal Yingkou Medium Plate. Following the deal, Rizhao Steel will provide management support to Minmetal Yingkou Medium Plate.