F33 - FerroChina Limited

FerroChina Limited1 is an independent flat steel value-added processors in China, with an annual group processing capacity of 900,000 metric tons. Its subsidiaries are engaged in the production and sale of galvanized steel coils and other related products; production and sale slab billet and other related products, and investment holding. In January 2006, it acquired a 35.45% stake in Changshu Everbright Material Technology Co., Ltd (Everbright) via its holding company, Superb Team Limited.

In December 2006, FerroChina acquired two cold rolling mills, Changshu Xinghai Advanced Building Material Co., Ltd and Changshu Xingyu Advanced Building Material Co., Ltd. On January 18, 2007, it acquired 35.45% of the equity interest in China GalvaTech Holdings Limited. On October 30, 2007, it acquired Superb Team Limited. On January 3, 2008, it incorporated a wholly owned subsidiary, Ferro Resources Pte Ltd.

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NEWS

  • October 18, 2008 - FerroChina sets up restructuring task forces2 - FERROCHINA shareholders may catch a glimmer of hope after the group provided some updates on its restructuring yesterday, one week after it said that it could not repay short-term loans of 706 million yuan (S$153 million) as its credit lines were snapped.
  • September 18, 2008 - FerroChina, Guangzhao seek investors3 - FerroChina announced yesterday it has identified a potential investor. It did not name the party, citing confidentiality. 'The company and a potential investor have entered into discussions and negotiations on the terms of investment, following which a draft term-sheet has been drawn up for the parties to review,' FerroChina said.
  • Sep 16, 2008 - FerroChina up on potential investor news4 - Shares of Singapore-listed FerroChina jumped 7.7 percent on Wednesday on news that the firm was in talks with an unidentified potential investor which could invest in the firm.
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