Daye Special Steel to join in bankruptcy reorganization of Zhejiang Gross
2019-05-16 18:09:01 [Print]
Daye Special Steel Co., Ltd. announced on May 15 that the company plans to participate in the bankruptcy reorganization of Zhejiang Gross Seamless Steel Tube Co., Ltd. (Gross). The company will provide reorganization funds of RMB491.55 million (USD71.46 million) in total and acquire the reorganization investment agreement signed by all parties through the acquisition of share of Gross. Gross is one of the very few enterprises which can produce both thick and thin seamless steel tube in large diameter, with an annual production capacity of 80,000t of seamless steel tube.

