Revealing its targets for China's 12th five-year period (2011-15), Chinese Anhui Province-based steelmaker Magang (Group) Holding Company Ltd said it plans to achieve annual sales revenues of RMB 120 billion in 2015.
Gu Jianguo, president of Magang Group, said that, apart from its wheels and H-beams, Magang Group's auto plates and plates for application in domestic appliances have also earned a good reputation in the market. In addition, silicon steel has become a profitable product for the group.
Mr Gu also said, "In the 12th five-year plan, we will attach importance to the non-steel industry. We will invest more in the non-steel industry so that it becomes a pillar industry for us with its sales revenues accounting for 15-20 percent of the total group revenues."