November 21, 2008

Changgang suffers heavy losses due to earthquake

It is reported that Sichuan Jiangyou located Pangang Group Sichuan Changcheng Special Steel Company Limited had suffered a lot in the quake occurred on May 12th 2008.

As per report the earthquake had cost a property loss of nearly CNY 100 million till May 24th 2008. Detailed figures are subject to further announcements since the survey is still under way due to aftershocks.

The company now is trying to resume production partially.

ST Changgang is a listed subsidiary of Panzhihua Iron and Steel Co.