China’s Tanghan Steel Acquires 10% Stake in Switzerland’s Duferco

by swisscham in Business

Tanghan Steel has purchased a 10% share in Switzerland’s Duferco International Trading Holding, underscoring the efforts of China to export more steel due to domestic overcapacity. Tanghan, part of Hebei Group, the largest steelmaker in the Asian country, signed last week a deal that provides exclusive right to Duferco to sell Tanghan steel outside Asia, two sources familiar with the matter said.

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