Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has announced that it plans to purchase all outstanding shares in its three subsidiaries, namely, Hunan Valin Xiangtan Iron and Steel Co., Ltd (Valin Xiangtan Steel), Hunan-based Valin Lianyuan Steel (Valin Ly Steel) and Hunan-based Hengyang Valin Steel Tube Co. Ltd., from the other shareholders.
Moreover, Hunan Valin Steel plans to acquire a controlling interest in Guangdong Province-based Yangchun New Steel Co. and to acquire 100 percent of shares in Hunan Province-based Hunan Valin Energy-saving and Environmental Protection Technology Co.
After all the acquisitions, Hunan Valin Steel will have an annual steel capacity of 24.0 million mt.
