General Steel Board Approves Restructuring Plan - Quick Facts

(RTTNews) - General Steel Holdings Inc. (GSI) announced that its Board has approved a strategic restructuring plan. General Steel said it plans to dispose low-efficiency, non-core assets and to restructure idle land resources for the purpose of unlocking their hidden fair value.

The transformation includes implementing additional cost-cutting programs at Longmen Joint Venture, selling the company's stake in General Steel Special Steel Pipe Joint Venture Company Limited, and reconfiguring the company's steel manufacturing facilities and assets to facilitate expansion into logistics and Internet-of-Things businesses.