Yalian Steel Receives Credit Line for China-Based Subsidiary

Yalian Steel Corporation, which is based in Vancouver and the Chinese city of Yangzhou, announced that it has received a line of credit worth C$3.8 million from China Merchants Bank. The funds, which will be available for one year starting June 15, 2011, will provide working capital to its wholly-owned China-based subsidiary, Yangzhou Yalian Steel Pipe Co. Ltd. Yalian Steel focuses on the production of high quality longitudinally submerged arc welded steel pipe that is used to service Asia’s rapidly growing energy transportation infrastructure market.