China Steel Aims For Australian Iron Ore, Coal Acquisition
In a recent interview, Taiwan’s China Steel Corp’s President Sung Jyh-yuh, declared that the company is aiming to buy more overseas iron ore and coal resources in 2012. The company is also looking to purchase steelmakers from China, Japan and South Korea. Sung told that the company has acknowledged acquisition targets in Australia, Brazil and Africa.
This year, China Steel seeks to buy a stake in at least one iron-ore mine, which will help in lifting the company’s self-sufficiency ratio in iron ore and coking coal to 9 percent in 2012 and 15 percent in 2013, from just 2 percent in 2011, noticeably dropping its feedstock costs.
The company is also seeking to raise its share of the global high-end electrical steel market to 10% by 2014, compared to 6%-7% in 2011. The company may get its electrical steel plant in India online by May 2014. It is planning to create 10 coil centers, which produce steel sheets for car-making in China, Malaysia, Thailand and Indonesia by 2016.
You can read more on Financial and Business Updates from our Experts : Mergers and Acquisitions
Original Source : Coal Acquisitions
This year, China Steel seeks to buy a stake in at least one iron-ore mine, which will help in lifting the company’s self-sufficiency ratio in iron ore and coking coal to 9 percent in 2012 and 15 percent in 2013, from just 2 percent in 2011, noticeably dropping its feedstock costs.
The company is also seeking to raise its share of the global high-end electrical steel market to 10% by 2014, compared to 6%-7% in 2011. The company may get its electrical steel plant in India online by May 2014. It is planning to create 10 coil centers, which produce steel sheets for car-making in China, Malaysia, Thailand and Indonesia by 2016.
You can read more on Financial and Business Updates from our Experts : Mergers and Acquisitions
Original Source : Coal Acquisitions