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HYUNDAI HEAVY BUYS STAKE IN CHINESE STEELMAKER.
SEOUL, Oct 2 Asia Pulse - The Hyundai Heavy Industries Co., the world's largest shipbuilder, has purchased a 20-per cent stake in the China Qinhuangdao Shouqin Metal Materials Co. for 491 billion won (US$51.9 million).
The stake purchase is designed to secure a stable supply of steel plates used for shipbuilding, the company said in a statement.
"We plan to import 300,000 to 500,000 tons of steel plates from the Chinese company next year," a Hyundai Heavy ...
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Source: HighBeam Research, HYUNDAI HEAVY BUYS STAKE IN CHINESE STEELMAKER.