Rizhao steel company, Owned By Du Shuanghua.
The Rizhao steel company is one of the largest steel producers in China. It is located in China’s Shandong province and employs over 15,000 people. The company produces a wide range of steel products, including rebar, wire rod, and pipes. The company has been expanding its operations in recent years and now has several overseas subsidiaries.
The company was founded in 1993 and has gone through several ownership changes. In 2010, it was acquired by Du Shuanghua, one of the richest people in China. Under Du’s leadership, the company has been making a lot of money, and he is now planning to sell it for $2.8 billion. See more on Forbes
This is due to his other steel business getting impacted by the US-China trade war. This would be the largest ever transaction for a Chinese steel company.
This would be the largest acquisition of a Chinese company by a foreign company, and it is likely to face some opposition from the Chinese government. The Rizhao steel company is one of the few remaining state-owned steel companies in China, and the government is not keen on selling them off to foreign investors.
Despite this, Du is confident that the deal will go through. He has already received approval from the company’s shareholders, and he is now in discussions with potential buyers. If the sale goes through, it will be a big win for Du Shuanghua, bringing him even closer to becoming the richest man in China.
The company has been expanding its operations in recent years and now has several overseas subsidiaries.