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| Saint-Gobain acquires Xugang company The Pipe Activity of the Saint-Gobain Construction Products Sector signed an agreement to acquire 100% of Xugang company (Xuzhou General Iron And Steel Works), which belongs to the municipality of Xuzhou (Jiangsu province). Xugang is Saint-Gobain’s partner in the Saint-Gobain Pipelines Xuzhou Joint Venture, which was created in November 2002. The Xugang Company produces roughly 600 kt of molten cast iron per year. Its facilities include five blast furnaces, installations for the preparation of iron ore and two coke batteries. This company is the major supplier of liquid cast iron for the production units of Saint-Gobain Pipelines Xuzhou. This acquisition strengthens the number two position of the Pipe Activity in the Chinese market which is experiencing strong growth. It also allows a significant improvement in the competitiveness of these pipe production units in China. write your comments about the article :: © 2005 Construction News :: home page |