How mill takeover led to birth of a baby girl
HBIS' acquisition in Serbia shows expansion of steel footprint can transform lives
Two years ago, Radanovic Miroslav and his colleagues, all employees of Zelezara Smederevo, Serbia's only steel plant, heard a certain HBIS Group Co Ltd might buy out their employer. Intrigued suitably, they consulted the internet to find out more about HBIS.
What they found out about the Shijiazhuang, Hebei province-based conglomerate surprised them. "We were surprised to know HBIS was the world's second-largest steel material producer. We were relieved. When US Steel bought Smederevo steel plant in 2003, the American company was the fifth-largest steel company. So, to know that the potential buyer is No 2 was very reassuring as it raised hopes of stability and a bright future," said Miroslav, director of purchases of steel scrap and secondary raw materials at the Serbian plant.
