Mittal to purchase stake in Hunan Valin Steel
According to recent news in the market, Mittal Steel Co is planning to buy stake in Chinese steel producer Hunan Valin Iron and Steel Group in order to increase its share in the world market for alloys. Mittal Steel Co officials are in talks with Valin Steel officials regarding their plan. Arcelor and Nippon Steel are Mittal's rivals in China regarding the sales in this country and the acquisition of stake in Valin Steel may increase Mittal's sales in southern provinces of China.