BlueScope signs deal to invest in China
Australian steel producer BlueScope Steel signed a deal with the Huangpu District of Guangzhou to invest $35 million in a new manufacturing plant in Guangzhou. With this investment, BlueScope's investments in China will go up to $400 million. The new facility will be operational in mid-2006. BlueScope officials stated that the new facility will enable the company to better serve to its customers in the Chinese market.