Special report: Hangzhou I&S gains control of Ningbo I&S

摘要

Hangzhou Iron & Steel Group (Hanggang), a 4 million metric tons/year producer of long products ineastern China, has purchased shares in Ningbo Iron & Steel (Ninggang) from Baosteel Group to becomeNinggang’s majority shareholder, sources at the companies confirmed. The share purchase will pave theway for Hanggang to relocate from Hangzhou city to Ninggang in Ningbo city, also in Zhejiang provincebut about 150 kms east.