Valin Group gains CNY 0.134 billion of profits in June

【保护视力色】 【打印】【进入论坛】【字号 大 中 小】 2009-07-10 09-21
Hunan Daily reported that Hunan Valin Iron & Steel Group Co Ltd has achieved sales incomes of CNY 24.17 billion during January to June this year and gained CNY 0.134 billion of profits only in June. Its subsidiaries, like Xiangtan Steel, Lianyuan Steel and Hengyang Steel all turned loss into profits in the month. In 2009, Valin Group has increased its investments by CNY 2 billion than last year with the total investment of CNY 10 billion. At present, Xiangtan Steel 5 meters broad and-thick plate project has finished converter and conti-casting basic parts construction, and Hengyang Steel 720 large-caliber seamless steel pipe has been slated into production in July 3rd. All these huge projects will ensure the company to realize the high value added products mix adjustment plan in a bid to enter the high end steel products market in the days to come.Besides, the company has become the second shareholder of Australia third largest mining group FMG by holding 17.34% stocks in CNY 6.2 billion and also signed strategic cooperation with Shanxi Coking Coal Group.