# China Oriental Group subsidiary to acquire steel and iron capacity for CNY1.452 billion

Fangchenggang Jinxi, a 97.6%-owned subsidiary of China Oriental Group, has signed an agreement with Chengde Zhaofeng to acquire iron capacity of 1.38 million tons/year and steel capacity of 1.5 million tons/year for a total consideration of CNY1.452 billion.

- Type: Acquisition
- Announced: 2019-10-10
- Where: Fangchenggang, China
- Value: $205.0M (1.45B CNY)
- Status: announced
- Capacity: iron: 1.38 million tons/year, steel: 1.5 million tons/year
- Products: H-beam steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [China Oriental Group](https://endata.com/companies/21259.md) (acquirer)
- [Fangchenggang Jinxi](https://endata.com/companies/42644.md) (acquirer)
- [Chengde Zhaofeng](https://endata.com/companies/42645.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/242470.html), 2019-10-10: "防城港津西与承德兆丰订立产能转让协议，内容有关将目标产能由承德兆丰转让到防城港津西，总代价为人民币14.52亿元。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.