Tangshan Steel’s 2007 net profit grows 72 percent

SteelOrbis Shanghai

In 2007, Hebei Province-based Tangshan Steel produced 9.3539 million mt of pig iron, 10.8379 million mt of crude steel and 10.4099 million mt of finished steel, up 1.43 percent, 7.35 percent, and 18.77 percent respectively year on year. The company achieved annual sales revenues of RMB 41.792 billion ($5.97 billion), up 38.45 percent compared with the previous year. Meanwhile, 2007 net profits reached RMB 2.426 billion ($347 million), up 72.13 percent year on year.