The Serbian president praises the Chinese company for acquiring success and progressThe Serbian pres

President Vučić praised the acquisition of the Chinese company on day 5 for the success and progress of the Smederevo steel plant in Serbia.
Vucic made the above statements during the celebration of the second anniversary of the official takeover of the Smeder Revo steel plant by Hegang Serbia. He thanked the workers for their efforts to achieve the corporate objectives and emphasized the importance of steel mills in the city of Smederevo and the entire Serbian economy.


Founded in 1913, Smeder Revo Steel is a well-known 100-year-old factory. Due to strong competition in the international market and poor management, the factory was once in trouble and faced bankruptcy. In April 2016, Hegang Group of China signed a contract with the Serbian government to acquire the Smeder Revo steel plant for 46 million euros, retaining 5,000 employees and the establishment of Hegang Serbia Co., Ltd. In December of that year , the steel mill realized the profitability and reversed the loss for seven consecutive years.
Song Weihai, executive director of Hegang Serbian Co., Ltd. said that after the establishment of the company, not only ensured that the original employees of the factory had stable jobs, but also provided 200 new jobs each year and invested a large amount of money. Of funds for technical updating and equipment renewal.


Song Yihai said that last year, the steel factory completed 1.46 million tons of steel production, with a production value of 750 million dollars, and paid taxes to the government for 39 million US dollars. "In 2018, steelmaking plans to produce 1.8 million tons of steel, which will set a new historical record and achieve an operating income of more than one billion US dollars." From the first half of the year, this goal can be achieve ".