China $12 Billion CITIC Pacific Special Steel to Buy World Top 3 Steel Trading Company UK-Based Stemcor Parent Prosperity Kingsfield for $2.1 Billion, China Conglomerate Cedar Holdings Acquired Stemcor from Private Equity Firm Apollo Global Management in 2020 & Transferred Ownership to Guangzhou Airport Industry Investment Group in 2024
1st January | Hong Kong
China CITIC Pacific Special Steel ($12 billion market value) is buying the world’s top 3 steel trading company UK-based Stemcor parent Prosperity Kingsfield for $2.1 billion. In 2020, China conglomerate Cedar Holdings acquired Stemcor from private equity firm Apollo Global Management, and transferred ownership to Guangzhou Airport Industry Investment Group in 2024. CITIC Pacific Special Steel – CITIC Pacific Special Steel was restructured and listed as a whole in 2019 (SZSE: 000708). As a global leading specialized steel manufacturer, the company is committed to creating the most competitive special steel enterprise group worldwide. Our product range includes alloy steel bars, special medium-thick plates, special seamless steel tubes, special forged materials, alloy steel wire rods, and alloy steel billets, with an annual production capacity of 20 million tons of special steel materials. Our process technology and equipment are at the forefront of global advancements, catering to the market needs of China’s strategic industries, including energy, transportation, engineering machinery, and aerospace. Moreover, we serve as a supplier of steel for key components used in China’s spacecraft, including the Shenzhou and Chang’e series. Over the years, CITIC Pacific Special Steel has become a key manufacturing base of special steel for China’s large projects as well as an R&D center for developing new materials, new processes and new technologies. Our products are well-received and widely sold across China, as well as exported to over 80 countries and regions including the United States, Japan, the European Union, and Southeast Asia. We have gained the favor of high-end customers in domestic and international markets. In 2020, CITIC Pacific Special Steel was awarded the first prize of State Scientific and Technological Progress Award for the project “Development and Application of Green and Efficient Electro-slag Remelting Key Technology for High-Quality Special Steel”. In 2023, our subsidiary, Xingcheng Special Steel, was recognized as a winner of the seventh China Grand Awards for Industry.
“ China $12 Billion CITIC Pacific Special Steel to Buy World Top 3 Steel Trading Company UK-Based Stemcor Parent Prosperity Kingsfield for $2.1 Billion, China Conglomerate Cedar Holdings Acquired Stemcor from Private Equity Firm Apollo Global Management in 2020 & Transferred Ownership to Guangzhou Airport Industry Investment Group in 2024 “
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China $12 Billion CITIC Pacific Special Steel to Buy World Top 3 Steel Trading Company UK-Based Stemcor Parent Prosperity Kingsfield for $2.1 Billion, China Conglomerate Cedar Holdings Acquired Stemcor from Private Equity Firm Apollo Global Management in 2020 & Transferred Ownership to Guangzhou Airport Industry Investment Group in 2024
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