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MCC digs deal for ore Down Under

(China Daily)
Updated: 2007-01-25 11:46

The company has seen 100 percent profit growthyear-on-yearsince 2001. In 2006 MCC's pre-tax profit was 7 billion yuan.

In order to develop overseas business, the company said earlier that it would continue to strengthen its traditional EPC business.

Last year MCC announced the establishment of two subsidiaries, MCC International Incorporation Ltd and MCC Overseas Ltd, to further develop its overseas business.

MCC International Incorporation Ltd will focus on North America, Latin America, the European Union and Africa, while MCC Overseas Ltd will cover Asia, Australia, Russia and Turkey.

The two new companies will be in charge of seeking projects, bidding and seeking investment, while the projects themselves will be built by other MCC subsidiaries.

MCC said the inception of the two companies is a part of the group's restructuring strategy and a milestone in its overseas business development.

Apart from the EPC business, MCC has also taken other measures to further reinforce its other core businesses of resource development, mechanical equipment fabrication and real estate development.

Last year the company changed its name from China Metallurgical Construction (Group) Corp to China Metallurgical Group Corp.

(China Daily 01/25/2007 page13)