The world’s most iconic ironmaking company has been acquired by a Chinese conglomerate.
Ironmaker Hammer is being sold to a Chinese investment firm, China General Iron, according to an official announcement from the company on Thursday.
The announcement did not name the buyer.
The news came a day after President-elect Donald Trump and other top executives from the industry met with China’s president, Xi Jinping.
Trump has long criticized the deal, saying it was a sign of unfair trade practices.
The deal is likely to help boost the ironmaking sector as the United States seeks to bolster its domestic manufacturing base.
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