Puyang Steel acquires another mill in Hebei, capacity now above 10 million mt

Wednesday, 01 September 2021 14:26:34 (GMT+3)   |   Shanghai
       

Hebei Province-based Chinese steelmaker Puyang Iron and Steel Group (Puyang Steel) has acquired another Hebei steelmaker, Hebei Xinwuan Iron and Steel Group Hong Rong Iron and Steel Co., Ltd., obtaining 70 percent of its equity.

In 2020, Puyang Steel’s annual crude steel output amounted to 6.3 million mt, while Hong Rong Steel’s annual crude steel output exceeded 2.0 million mt. Puyang Steel has also a subsidiary, Xingtai Iron and Steel, with more than 2.0 million mt of crude steel capacity.

Accordingly, Puyang Steel’s overall annual crude steel capacity will exceed 10 million mt. 


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