China's Tangshan Iron & Steel Group Co. (Tangshan) held a ceremony on March 20th to mark its 10% acquisition of Switzerland's JCDecaux Co.'s shares.
The Switzerland acquisition further signaled Tangshan's growing international presence in the iron and steel market.
Tangshan's president, Yu Yong, stated that the partnership with JCDecaux aims to make domestic and global resources more effective and will enhance Tangshan's product quality and company reputation.
The parties have also agreed to cooperate on another front by signing a capital agreement on steel product export reaching approximately US$1.2bn.
JCDecaux is a powerful international iron and steel trader that relies on its sophisticated and seamless sales network to reach annual sales of approximately 30m tons of iron and steel products.
The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer
for more details.