Puyang Refractories to acquire 60% equity of Tangshan Guoliang Special Refractory

2019-09-19

Sep. 19, 2019 - Henan Province-headquartered Puyang Refractories Group Co., Ltd., a well-known listed company in global refractory industry, intends to acquire a 60 percent stake of Guoliang Special Refractory Co., Ltd., which will make the refractory giant enter into top 10 in the world.

In fact, Guoliang Special Refractory Co., Ltd. is situated in Tangshan, Hebei Province, a major steel center, and serves as a leading refractory enterprise in Hebei and even the whole North China as it launches R&D efforts about shaped refractories, monolithic refractories and functional refractories as well as undertakes installation projects of refractory facilities in metallurgical program and distributes its products into large steel mills nearby. 

Puyang Refractories said in an announcement that it is complementary to control Guoliang Special Refractory as they are in the same industry and their targeted clients are steel enterprises. In addition, the latter has maintained long-term cooperation with some 30 large steel players from Hebei, Tianjin and Shanxi, which will be beneficial for Puyang Refractories to exploit the refractory market in North and expand product scale and downstream market.

The acquisition of Puyang and Guoliang will not only increase their production, but will also make them available to leverage each other’s advantages.