Hebei Steel is considering placing Xuanhua Steel and Wuyang Steel under its trusteeship as an interim measure prior to the final acquisition of their equity from its No.1 shareholder Tangshan Steel and the second largest stockholder Handan Steel.
Xuanhua Steel, a wholly-owned subsidiary of Tangshan Steel, produces wire rod, rebar, light section, narrow strip and welded pipe. Wuyang Steel, in which Handan Steel has 53.12 percent of shares, is a producer of heavy plate including extra thick gauge.
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