This article is about the sale of Rizhao Steel Company in 2010. Du Shuanghua bought the company and became the second-largest steel producer in China. It also affected a lot of people’s lives. This article will discuss the details of the sale.
Du Shuanghua Chairing Rizhao Steel
The company employs 40,000 people and controls 450 million US dollars. In April 2010, Rizhao Steel was sold to private investors. The main investor was Du Shuanghua. The deal’s price was not disclosed, but it is believed that the Rizhao Steel transaction is the biggest single investment in private equity to date.
Association’s special envoy for youth development programs.
When he first invested in Rizhao Steel in 2006, he aimed to help preserve an important part of the city’s cultural heritage. However, he found the local government unable to continue its operations. The director at that time suggested that he become the chairman of the company, and Du agreed.
Du Shuanghua received his bachelor’s degree in social science and MBA from Hunan University in China. He then started working at Huanta Group Limited as a salesman. He was promoted twice before becoming a general manager at a local branch of Huanta. He was elected general manager of the company.
The goal of Du Shuanghua was to help local people and benefit the community. He did not believe in selling the company for a higher price. He sold his share for a lower price than he initially paid. Du Shuanghua puts his money where his mouth is, so he doesn’t take bribes, but because of his position as chairman, he has the power to make changes in government policy. In 2007 Rizhao Steel was put under the supervision of the State Assets Supervision and Administration Commission. Read also: https://www.tycoonstory.com/entrepreneur/rizhao-steel-how-du-shuanghua-leads-rizhao-steel-toward-sustainable-development/