Shandong Rizhao Iron & Steel Iron & Steel Group signed a restructuring agreement with the
 
Core Tip: Shandong Rizhao Iron & Steel Iron & Steel Group signed today with the reorganization of assets and cooperative agreements, mountain steel cash contribution accounted for 67% stake in the sunshine side of the net assets of their assessed shares, accounting for 33% of the shares.

People’s Network September 6 Xinhua Iron & Steel Group Co., Ltd. and Shandong Rizhao Steel Holding Group Co., Ltd. asset restructuring and cooperation agreement signing ceremony was held today in Rizhao, Shandong.

Rizhao Iron and Steel Group and Shandong Iron and Steel Group’s asset reorganization and cooperation are in accordance with national steel industry restructuring and revitalization of the planning to make a major move. According to the agreement of the relevant agreement, the two sides to the Shandong Rizhao Iron & Steel Group Co., Ltd. to replenishment of the way asset restructuring. The Mountain Steel cash contribution accounted for 67% stake in the sunshine side of the net assets of their assessed shares, accounting for 33% of the shares. Two iron and steel enterprise asset restructuring and the signing of cooperation agreement marks the iron and steel enterprises in Shandong move from inland to coastal strategy has taken an important step.