Chu Kong Petroleum

Chu Kong executive director Lilian Chen speaks with chairman Chen Chang during the annual general meeting yesterday. Photo: Nora Tam

Pipe maker confident it can turn around rebar firm

Chu Kong Petroleum & Natural Gas Steel Pipe, based in Panyu, Guangzhou, agreed last month to buy Nanjing Rongyu Group, a maker of rebar used in buildings, bridges, and roads, for 80.4 million yuan (HK$101.7 million).