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Handan Iron & Steel Profited over CNY71mn from New Products

Posted on: Wed, 18 Nov 2009 06:38:00 EST

Symbols: HDISF

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HANDAN, Nov 18, 2009 (SinoCast Daily Business Beat via COMTEX) --
HDISF | Quote | Chart | News | PowerRating -- Handan Iron & Steel Co., a major steelmaker based in Handan, Hebei Province, north China, profited more than CNY 71 million from its new products in the first ten months of 2009, marking a record high.

From January to September, the steelmaker aggregately reaped profit of CNY 458 million. In particular, its new production area, starting operation less than one year ago, contributed profit of CNY 211 million, nearly half of its total.

Handan Iron & Steel will soon turn out quality steel products in the new production base, and these products will be used in the trunk line of the West-to-East Natural Gas Transmission Project, disclosed Li Guiyang, chairman of the steelmaker under the wing of Hebei Iron and Steel Group Co., Ltd.

The steelmaker has developed the first X80-grade tube and tire-targeted steel in the northern Chinese province of Hebei, which has passed the performance tests by authorities. Moreover, it is capable of making 80% of steel used in a complete vehicle.

Source: www.shihua.com.cn (November 18, 2009)

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