Shougang Group Tonghua Steel Company enters judicial restructuring process
2019-11-06 16:02:34 [Print]
According to information from Shougang Group, Intermediate People's Court of Tonghua in Jilin officially ruled to accept the restructuring application of Shougang Group Tonghua Steel Company submitted by the creditor and assigned a restructuring manager on November 4, which means that Shougang Group Tonghua Steel Company entered judicial restructuring process officially.
Shougang Group introduced that Tonghua Steel Company was once the largest iron and steel joint enterprise founded in 1958. Affected by many factors, Tonghua Steel Company was in a tight corner in operation early this century. In 2010, Shougang Group reorganized Tonghua Steel Company and founded Shougang Group Tonghua Steel Company, improving the operation through many reform and innovative measures. However, years of heavy debts still hindered the development of Shougang Group Tonghua Steel Company.
At present, Intermediate People's Court of Tonghua in Jilin has approved Shougang Group Tonghua Steel Company to continue to operate and manage assets and business issues under the supervision of the assigned manager. Shougang Group noted that Shougang Group Tonghua Steel Company will be in normal production and operation during the restructuring period.
Shougang Group introduced that Tonghua Steel Company was once the largest iron and steel joint enterprise founded in 1958. Affected by many factors, Tonghua Steel Company was in a tight corner in operation early this century. In 2010, Shougang Group reorganized Tonghua Steel Company and founded Shougang Group Tonghua Steel Company, improving the operation through many reform and innovative measures. However, years of heavy debts still hindered the development of Shougang Group Tonghua Steel Company.
At present, Intermediate People's Court of Tonghua in Jilin has approved Shougang Group Tonghua Steel Company to continue to operate and manage assets and business issues under the supervision of the assigned manager. Shougang Group noted that Shougang Group Tonghua Steel Company will be in normal production and operation during the restructuring period.
