China Metallurgical Group Corporation (MCC), the leading Chinese engineering designer and the metallurgical equipment manufacturer, recently announced that it will speed up the disposal of assets of its former subsidiary Zhongye Hengtong Cold Rolled Technology Co., Ltd.
MCC decided to stop all operations in Zhongye Hengtong on December 28, 2010. However, MCC has not yet transferred all of its shares in Zhongye Hengtong. Zhongye Hengtong mainly produces galvanized steel plate, galvalume silicon plate and pre-painted galvanized iron