SMM: on Sept. 11, Jingye Group formally acquired and took over Guangdong Taidu Iron and Steel Industry Co., Ltd., and the two sides held a handover ceremony in Jieyang City, Guangdong Province. This is another important measure taken by Jingye Group in the strategic layout of the iron and steel industry after the acquisition of British Iron and Steel and Yunnan Yongchang Iron and Steel this year.
Guangdong Taidu Iron and Steel Industry Co., Ltd. is a private iron and steel enterprise in Jieyang City, with sintering, blast furnace, converter, steel rolling production line, power generation, oxygen production and other supporting facilities, convenient land and surface transportation, self-built two 5000-ton professional iron and steel wharves with an annual throughput of more than 2 million tons.
After the completion of the acquisition, Jingye Group will give full play to its own advantages, implement capital and industrial integration to Guangdong Taidu Iron and Steel Industry Co., Ltd., promote technological innovation and product structure optimization, and further promote enterprise transformation and upgrading.
Industry insiders believe that this acquisition provides a solid foundation for Jingye Group to gain a foothold in Guangdong and radiate South China, and to enter the market of "dedicated blue" rebar and other products in eastern Guangdong and Dawan area.
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