Chinese steelmaker buys US Steel plant
sourcesteeltimesint.com
time2016/04/22
The Hebei Iron and Steel Group has signed on the dotted line to buy a loss-making steel plant in Serbia.
The plant, previously owned by US Steel was sold to the Chinese steelmaker for US$52 million. It employs 5,000 workers and was sold back to the State of Serbia by US Steel for just one dollar, due to the losses incurred.