Punai Refractories had signed a sales contract with Hyundai Steel. The contract period is from 2010 to 2012 and the total value is RMB245 million. The products of the contracts related to blast furnace, ladle, torpedo tank, furnace, tundish and functional refractories.



Punai Refractories reminded that the above amount of the contract is calculated on the basic of Hyundai Steel’s crude steel output in 2010 of 400 million tons and in 2011 and 2012 to reach 8 million tons. If the steel production capacity does not meet the above criteria, then the amount of the contract will be adjusted accordingly.