OREANDA-NEWS. December 02, 2011. The three controlling subsidiaries of Huaigang Specialty Steel, Lihuai Steel, Huaiao Steel and Huaitie Steel will be incorporated into Jiangsu Lihuai Iron and Steel Co Ltd with a registered capital of 726 million yuan.

Huaigang Specialty Steel, a controlling production arm of Shagang Group, will hold 75 percent of the new company dealing mainly with gearing steel, bearing steel, spring steel, low alloy steel and ordinary carbon steel.