Corporate Profile
Sapphire first entered the China steel industry in 2007 by acquiring a 16% indirect stake in an integrated steel group. The steel group was divested from the steel business unit of Sichuan Chuanwei Group Co., Ltd ("Chuanwei") which is a local conglomerate with businesses spinning beyond steel to include iron ore and coal mining, cement production and real estate.
Under the steel group are four subsidiaries - Special Steel, China VTM, Bowei and Weiyuan which collectively own iron-ore mines, vanadium, steel and coke plants in the same province.
Apart from Special Steel, which Sapphire has since increased its stake from 11.2% to a controlling 70%, the Group has deemed interests of 9.47% in Bowei, and 11.73% in Weiyuan and 9.2% in directly-held China VTM.
