Longhai Steel, Inc. (ACTN) is “One to Watch”
Headquartered in Xingtai City, Hebei Province, China, Longhai Steel, Inc. is a manufacturer of steel wire products in eastern China. The Company produces steel wire ranging from 6.5 mm to 10 mm in diameter on two wire production lines. These lines have a combined annual capacity of approximately 0.9 million metric tons annually. Longhai Steel sells their products to a number of distributors who transport the wire to nearby wire processing facilities. The Company's wire undergoes further processing by third party wire refiners into an array of products. These include nails, screws, and wire mesh for use in reinforced concrete…