Zhejiang Province-based Chinese steelmaker Kingland Pipeline has announced it intends to invest in Jiangsu Province-based Zhangjiagang Chukong Steel Pipe Company, which is currently 100 percent owned by Sha Gang South Asia (Hong Kong) Co., Ltd.
According to the announced plans, Kingland Pipeline will acquire a 41 percent stake in Zhangjiagang Chukong Steel Pipe Co. by means of an investment in cash, Sha Gang South Asia (Hong Kong) Co. will still hold 49 percent, while.Zhejiang Kingland Pipeline Industry Co., a subsidiary of Kingland Pipeline, with hold 10 percent.