General Steel Holdings, Inc. (GSI)

[eastunder]

General Steel (GSI) Says Sales and Volume Momentum Strong as Areas Initiate China Infrastructure Projects

http://www.streetinsider.com/Corporate+News/General+Steel+%28GSI%29+Says+Sales+and+Volume+Momentum+Strong+as+Areas+Initiate+China+Infrastructure+Projects/7754189.html

General Steel Holdings, Inc. (NYSE: GSI), one of China's non-state-owned producers of steel products and aggregators of domestic steel, today announced select preliminary financial results for the first half of 2012 and provided an update on its operations and strategic initiatives.

For the first half of 2012, General Steel expects to report revenues of approximately US$1.4 billion and production volume of approximately 2.4 million metric tons.

"While the nationwide steel market has slowed, demand in our primary target market of Western China has remained stable, supported by large-scale, government-sponsored housing and infrastructure investment projects," said Mr. Henry Yu, General Steel Chairman and Chief Executive Officer.

"Our sales and volume momentum remains strong and continues to grow as Shaanxi Province and the nearby areas initiate new infrastructure projects that have been recently approved by the National Development and Reform Commission," said Yu