Shougang Concord International Enterprises Company Limited, an investment holding company, primarily engages in the steel manufacturing and trading businesses in the People’s Republic of China and Hong Kong. It also engages in the manufacture of steel cord for radial tires; and processing and trading of copper and brass products. Segments The company's operating segments include Steel manufacturing; Shipping operations; Steel trading; and Others. The Steel Manufacturing Segment engages in the manufacture and sale of steel products. The company operates in this business segment through a 76%-owned Qinhuangdao Shouqin Metal Materials Co., Ltd. (Shouqin) and a wholly-owned subsidiary Qinhuangdao Shougang Plate Mill Co., Ltd. (Qinhuangdao Plate Mill). The Shipping Operations Segment engages in the vessel chartering and the leasing of floating cranes. Shougang Concord Shipping Holdings Limited and its subsidiaries are mainly engaged in the time charter business. The Steel Trading Segment engages in the trading of steel products. Acquisitions During 2008, the company acquired 14.3% equity interest in Mount Gibson Iron Limited (Mount Gibson), an iron ore producer which is listed in Australia; and a 12.0% equity interest in Fushan International Energy Group Limited, a coking coal producer in Hong Kong. Dispositions In June 2008, the company disposed of Ultra Result Limited and its 51%-owned subsidiary, Beijing Shougang Firstlevel Power Co., Ltd., which carried electricity generation operation.
shougang concord intl ent co
Bank of East Asia Harbour View Centre
56 Gloucester Road
Phone: 852 2861 2832
Fax: 852 2529 0126www.shougang-intl.com.hk
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