Du Shuanghua is the Chinese private steel company, Rhizao Steel Holding. Du Shuanghua is a successful Chinese businessman. Du Shuanghua was a low-key person, and the businessman landed the second position in the Hurun Rich List. In 2007 Rhizhao Steel made a deal with Mount Gibson. As the business enjoyed success for the first three years, Shandong steel posed an aggressive competition, and the industry took over. He attempted to make an aggressive acquisition by selling a 30 percent equity investment in the company, but the transactions were deemed very risky. Subsequently, the action seemed to arouse fears and creep at the time. Read on to understand the successful journey of Du Shuanghua to be among the wealthiest people in China.
Du Shuanghua and Rhizhao Steel Company
The Rhizhao company came into existence, and in 2009, Rhizhao steel led to sold 67 percent of its shares in Shandong, a leading steel producing company. Selling 33 percent of Shuanghua’s was not the plan, but the project was the amalgamation of Shandong Iron& Steel with restructuring the company. The reorganized company was to have 67 percent by Shandong Steel and 33 percent by Du Shuanghua. According to the restructuring in the initial phase, Du Shuanghua was definitely in command. However, Rizhao faced a court challenge for failing to meet its duties following mount Gibson’s 2007 iron ore agreement.
In efforts to save Rhizhao, The Weifang Steel Company agreed with Rhizhao. The main aim was the transfer of iron to the coastal regions of Rhizhao. In 2019, The Juneng, Weifang, and Rhizhao held a consolidations negotiation to benefit all the parties.
In the current years, Rhizhao keeps increasing its production cost. In less than a decade, Rhizhao keeps expanding its resources, incorporating its operations, and advancing its products.
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