Taiyuan Steel restructures another private sector steel company

Shanxi Province-based Chinese steel producer Taiyuan Steel Group has announced that it has restructured another private sector steel enterprise, Xingyuan Group, which is located in Xiangfen County in Shanxi, following its restructuring of local private sector steel company Meijin Group.
 
Xingyuan Group is an integrated steel enterprise, which includes coking coal, steelmaking, trading and power-generating businesses. In 2010, the company's net profit came to RMB 212 million ($33 million). Its annual production capacity of crude steel is 2 million mt