General Steel Signs Unified Management Agreement for Longmen JV Operations

General Steel Holdings, Inc. GSI today announced it has signed a 20-year unified management agreement with Shaanxi Coal and Chemical Industry Group Co., Ltd. and Shaanxi Iron and Steel Group Co., Ltd. Under terms of the agreement, General Steel will provide daily management of operations and operate production equipment constructed by Shaanxi Steel at a facility owned by General Steel's subsidiary Shaanxi Longmen Iron and Steel Co., Ltd. in Hancheng Shaanxi province, China. The agreement was signed during a ceremony held on April 29, 2011, which included executives from General Steel, Shaanxi Steel and officials from the Shaanxi provincial government.