Friday, September 3, 2010

Steel story

We're 'moving house' tomorrow. But how about this...

The appetite for steel in China is immense. Importing it is super-costly and building steel plants from scratch can take years. So one answer is to buy a loss-making one from abroad, dismantle it, ship it over right down to the last screw, and reconstruct it locally - not forgetting to bring an assembly manual. That’s exactly what happened to the ThyssenKrupp steel mill near Dortmund, which used to employ 10,000 people but by the end of the 90s was haemorrhaging euros. It was bought by a Chinese company called Shagang, dismantled in less than a year (two years quicker than the German experts had estimated) and was up and running in its new home, Jinfeng, in another year or so. Read more here.

1 comment:

  1. neo/ultra-capitalism meets efficiency. bye bye Deutsche Gr├╝ndlichkeit...