Chinese major buys steel works in Europe

摘要

The Serbian government has accepted Hebei Steel's bid to acquire the loss-making Smederevo steel works.It was the only bidder, and its winning offer of ?46 M ($52.3 M) was just above the minimum price of ?45.7 M (CRU Views - Steel, 7 March 2016).Belgrade said Hebei has agreed to retain Smederevo's 5,050 employees, maintain existing contracts and offer workers professional development and training, including assignment to other countries.