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Steel Overview
Steel Distribution is predominantly the revenue model of CMG,
which embodies the stockholding business of construction steel
in Hong Kong and steel distribution in China together with its 18.9% investment in the iSteelAsia Holdings Limited, distribution of mainly domestic steel products in eastern China by its 66.7% owned joint venture, Shanghai Bao Shun Chang, and supply of GI to and distribution of pre-painted galvanised steel (PPGI) for its 10% owned joint venture with the Beijing Shougang Group.
Being the first player engaged in the rebars stockholding business in Hong Kong
since 1961, VSC has built a very solid foundation and loyal relationship with
many major property developers and contractors. The department continued to utilise
key account management approach and centralised project database in sales and
marketing. Efforts were paid to rationalise resources, e.g. controlling operating
costs, streamlining operation efficiency and strengthening supply chain management,
etc.
Keenly aware of the strong demand underpinned by the booming construction industry
in China, VSC is able to develop a niche market of distributing selected high
quality steel products in several major cities where a lot of building and
infrastructure projects are carried out by oversea investors. The new progress made by CMG was to develop the business of imported structural steel, mainly H-beams and sheet piles, into the booming Shanghai property market.
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Steel Distribution