China Steel Corporation (CSC), integrated producer of steel products in Taiwan, has invested an additional US$40 million in a joint-venture steel plant with Formosa Plastics Group (FPG) in Hà Tĩnh Province, Vietnam, to secure a 5% share, also investing US$12 million to build a metal cutting center in Shangdong Province to tap the northern China market.
CSC’s first-half revenues reached NT$110.675 billion (US$3.69 billion), with NT$1.929 billion (US$64.3 million) in pretax earnings, NT$0.13 (US$0.0043) in earnings per share (EPS), according to CSC.
C.C. Li, executive vice president of CSC, pointed out that the company invested US$135 million in FPG’s steel plant in Hà T?nh in 2000 for a 5% share, with the total investment set to increase by US$2.117 billion, and CSC deciding to invest US$40 million more to secure a 5% share. (…)
via China Steel Corporation Raises Investments in Vietnam and Northern China.