OREANDA-NEWS. May 21, 2014. The 7th meeting of the 15th Board of Directors of China Steel Corporation (CSC) was held.

Major items of the agenda adopted were:

1. Establishment of a company with OEM finishing process for producing hot rolled steel plates, bars and wire rods

CSC will invest NTD872.5 million in establishment of a wholly-owned company with OEM process for finishing CSC’s semi-finished products of titanium- and nickel-alloys to produce hot-rolled steel plates, bars and wire rods that will make CSC Group’s finishing process of Ti-Ni-alloy materials more complete for the industrial uses, so as to increase the Group’s product competitiveness. The project is scheduled for completion in June 30, 2015.

2. An adjustment in employees’ salary by raising 2.7%

An adjustment in employees’ salary by raising 2.7% was resolved in meeting and its effective date was traced back from April 1, 2014 on.

3. Change of part management positions to be effective from June 1, 2014 on

(1) Vice President of Engineering Mr. Wen-Du Hsu will be transferred to the new position as Chairman of Wind Power Business Development Committee.

(2) Vice President of Corporate Planning Mr. Mou-Pin Wang will be transferred to the new position as Vice President of Engineering.

(3) Vice President of Finance Mr. Chung-Yi Lin will be transferred to the new position as Vice President of Corporate Planning.

(4) Assistant Vice President of Finance Mr. Yuan-Chuan Horng will be promoted as Vice President of Finance.