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SMEDEREVO, Serbia, April 18 (Xinhua) -- The contract for the sale of Serbia's sole steel mill was signed between representatives of Serbian government and Chinese HeSteel Group (HBIS) at a ceremony in the city of Smederevo on Monday.
Serbia has invited bids for its loss-making Zelezara Smederevo steel mill, marking the latest stage in attempts to find a solution to the plant which has been swallowing $120 million a year in ...
Sep 09, 2017· · As China Moves In, Serbia Reaps Benefits, With Strings Attached. ... But Mr. Xi's words saved 5,200 jobs in Smederevo, a city of 100,000 that has depended on the steel mill for decades. China ...
BELGRADE, Serbia - The Serbian government on Tuesday bought a loss-making plant from U.S. Steel for the symbolic sum of $1, hoping to avoid its closure and keep 5,400 workers employed at a time of ...
Serbian steel mill ends 7-year loss after Chinese . A steel mill in the Serbian city Smederevo has turned a profit, ending a seven year loss, after being taken over by China's Hesteel Group last year, according to the Chinese iron and steel manufacturing conglomerate.
Serbia on Tuesday accepted an offer to sell the country's sole steel mill, and its largest exporter, to China's HBIS, the world's third-biggest steel producer, the economy ministry said.
Generating at its peak 13 per cent of Serbia's export earnings, Zelezara Smederevo steel mill on the banks of the Danube is a symbol of the supposed glory days of Serbian industry.
The steel mill, which started operations in 1913, was a State-owned Serbian enterprise, but fierce international competition and poor management was leading it to closure, until it changed to ...
Jul 02, 2016· The steel mill in the Serbian city of Smederevo is officially in ownership of Chinese HeSteel since Friday, and the 46-million-euro (51.6 million U.S. dollars) deal becomes a reality, Serbian ...
The Serbian government and the He Steel Group on Monday signed a contract on the sale of the Smederevo steel mill whereby the Chinese company acquired all 98 property units of …
SMEDEREVO, Serbia (Reuters) - China's Hebei Iron & Steel Group (000709.SZ) signed a 46 million euro ($52 million) agreement on Monday to buy a loss-making Serbian steel plant in the first major ...
Hebei's flat steel mill in Serbia posts record sales in ... Hebei Iron & Steel (HBIS) in May achieved its highest sales and revenue at Serbia Iron & Steel since the Chinese steelmaker took over the Serbian …
SMEDEREVO, Serbia (AP) — China's President Xi Jinping said Sunday his country's relations with Serbia should serve as an example for other nations in central and southeast Europe where the Asian ...
The introduction of anti-dumping duties by the EU on steel products originating in China will not affect the exports of Serbian steel mill Zelezara Smederevo owned by Chinese producer Hesteel, the delegation of the European Union to Serbia said on Tuesday.
HBIS Group Iron & Steel d.o.o. is a well-known producer of steel, hot and cold rolled products and tin plate in southeast Europe, and its facilities are located in …
Xi was touring the Zelezara Smederevo steel plant at the end of his three-day visit to Serbia, before leaving for Poland. He was cheered on by flag-waving workers at the plant, which was recently ...
In January 2012, U.S. Steel sold its Serbian mills outside Belgrade to the Serbian government, as their operations had been running at an economic loss. On May 2, 2014, U.S. Steel announced an undisclosed number of layoffs affecting employees worldwide.
Serbian steel mill Zelezara Smederevo will restart production within a month even though the government failed to find a new owner and investor for the troubled company, finance and economy minister Mladjan Dinkic was quoted as saying on the ministry's website.
The Serbian government and Chinese company He Steel will sign a sales contract for Serbia's sole steel mill Zelezara Smederevo on April 18, if the European Commission gives the go-ahead for the privatization, Serbian government sources told Tanjug.
The Železara Smederevo steel mill used to export around USD1bn worth of steel a year, which was equivalent to around three percent of Serbia's total GDP at the time, he added. HBIS announced in April it will increase the factory's annual production to 2.1 million tons …
Jul 15, 2017· (10 Jul 2017) A giant Chinese red flag flutters on a pole where an American flag used to fly at a steel mill in this dusty industrial Serbian town. The company logos of US Steel are faded on the ...
The HBIS GROUP Serbia Iron & Steel, commonly known as the Hesteel Serbia (Serbian: Хестил Србија) or Železara Smederevo (Serbian: Железара Смедерево), is a Serbian steel manufacturing conglomerate with the headquarters in Belgrade.It operates with facilities in Radinac (steel plant, hot and cold rolling mill), Smederevo (), Šabac and Kučevo (limestone mining
BELGRADE (Serbia), July 2 (SeeNews) – HBIS Group Serbia Iron & Steel, a subsidiary of China's Hebei Iron & Steel Group, plans to invest 150 million euro ($174.5 million) in Serbian steel mill Zelezara Smederevo by 2020, director Sihai Song has said.
In April, Serbia's government agreed to sell the steel mill to Hesteel, after the Chinese investor submitted a binding offer to buy all 98 property units of Zelezara Smederevo for a total of 46 million euro.
After a year of imaginative management, HBIS Group of China has succeeded in turning around the troubled Smederevo steel mill, Serbia's largest, reinforcing the view that the conglomerate's go-global strategy is yielding positive results.
Jun 15, 2016· The Smederevo steel mill stands a good chance to recover and develop after it was sold to Chinese HeSteel Group (HBIS), experts and officials said. Now let's hear from the workers at the steel mill.
Information about Serbian construction industry, providing investment opportunities, projects, companies, news and laws. ... Sirmium Steel in Sremska Mitrovica. ... which will be later used in rolling mills for production of various types of building armature that is in high demand.