Shougang Group to stop production in BJ by year end

15:50, December 29, 2010      

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Chinese iron and steelmaker, Shougang Group, will stop production in Beijing's Shijingshan District by the end of this year. It's relocating its facilities to neighboring Hebei Province, for environmental concerns.

Founded in 1919, the group ranked 39th in the top 500 Chinese companies in 2009. In 2010, Shougang produced more than 31 million tons of steel. The company's sales revenue reached nearly 190 billion yuan this year, and its asset value totaled more than 300 billion yuan. Shougang was the largest enterprise in Beijing.Chinese iron and steelmaker, Shougang Group, will stop production in Beijing's
Shijingshan District by the end of this year.

And after the relocation, the company will only keep one production line in the city, which will have a limited environmental impact.

Source: CNTV.cn
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