The 7th meeting of the 15th Board of Directors of China Steel Corporation (CSC) was held on May 9, 2014
The 7th meeting of the 15th Board of Directors of China Steel Corporation (CSC) was held on May 9, 2014. Major items of the agenda adopted were:
1. Establishment of a company with OEM finishing process for producing hot rolled steel plates, bars and wire rods
CSC will invest NT$872.5 million in establishment of a wholly-owned company with OEM process for finishing CSC's semi-finished products of titanium- and nickel-alloys to produce hot-rolled steel plates, bars and wire rods that will make CSC Group's finishing process of Ti-Ni-alloy materials more complete for the industrial uses, so as to increase the Group's product competitiveness. The project is scheduled for completion in June 30, 2015.
2. An adjustment in employees' salary by raising 2.7%
An adjustment in employees' salary by raising 2.7% was resolved in meeting and its effective date was traced back from April 1, 2014 on.
3. Change of part management positions to be effective from June 1, 2014 on
(1) Vice President of Engineering Mr. Wen-Du Hsu will be transferred to the new position as Chairman of Wind Power Business Development Committee.
(2) Vice President of Corporate Planning Mr. Mou-Pin Wang will be transferred to the new position as Vice President of Engineering.
(3) Vice President of Finance Mr. Chung-Yi Lin will be transferred to the new position as Vice President of Corporate Planning.
(4) Assistant Vice President of Finance Mr. Yuan-Chuan Horng will be promoted as Vice President of Finance.
China Steel Corp is a Taiwan-based company principally engaged in the manufacture and sale of steel products. The Company operates through two segments. The Steel segment is mainly engaged in the manufacture and sales of steel products. Its products include steel plates, steel bars, wire rods, hot rolled steel products, cold rolled steel products, galvanized steel and electromagnetic steel sheets, among others. Others segment is engaged in the production and sale of coal chemistry and special-purpose chemicals, environmental protection, electromechanical engineering and agency operation business, production and sale of blast furnace powder and blast furnace cement, manufacture and sale of nickel products and other non-ferrous metals, design and sale of information hardware and software, as well as development, leasing and sale of real estate. The Company operates businesses in Taiwan, Malaysia, China, Vietnam and India.