Report: Serbian Mill Ends Seven Years of Losses
01/20/2017 - Less than a year after acquiring Serbia’s Zelezara Smederevo steel works, China’s Hesteel Group said it has returned the facility to profitability, reports Xinhua, China’s official news agency.
According to the news agency, the facility expects to turn a profit of US$20 million on revenue of US$800 million, ending seven years of losses. Hesteel also plans to invest US$120 million in upgrades to equipment and processes this year.
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