Sutor Technology signs four new steel contracts worth $40 million

Published: 12-Mar-2010

China-based Sutor Technology Group Limited has signed four annual contracts totaling 52,000 metric tons of processed steel products for an aggregate contract amount of approximately $40 million.

The contracts are for one year beginning from March 2010 and the products sold through the contracts will be priced at the market at the time of shipment. The new order contracts are with long term customers Shandong Sangle, a leading solar water heater manufacturer in China, and three steel distributors located in Eastern and Southern China. Under the contracts, Sutor will supply approximately 10,000 metric tons of pre-painted galvanized steel (PPGI) to Shandong Sangle and 42,000 metric tons of hot dipped galvanized steel (HDGI) to the three steel distributors.

Sutor Technology Group Limited is one of the private manufacturers of fine finished steel products used by steel fabricators and other applications in China. Sutor utilizes a variety of processes and technologies to convert steel manufactured by third parties into fine finished steel products, including hot-dipped galvanized steel, pre-painted galvanized steel, acid-pickled steel, cold-rolled steel and welded steel pipe products.

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