Valin Steel Consolidates Tubular Operations

Valin Steel said the company plans to set up a wholly owned subsidiary tentatively called Hunan Valin Steel Tube Holdings - as a platform that will absorb a 67.13 percent stake in Valin Steel Tube from Valin Steel, 55 percent of Xigang Group owned by Valin Group and the remaining 45 percent of Xigang by the subsidiaries of Huarun Group. The company aims to integrate Xigang Group with Valin Steel Tube in order to optimize its tube portfolio.