Tangshan Iron & Steel acquires 10% stake in Switzerland’s JCDecaux

Date: 22 Mar 2013

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.

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