Smederevo steel plant tells story of success, progress: Serbian
On April 18, 2016, the Serbian government signed a deal with HBIS Group, China's largest and the world's second-largest steel and iron producer, to sell Smederevo steel for 46 million euros (53.8 million U.S. dollars). The factory was then renamed Hesteel Serbia. The Serbian government announced the official takeover of the mill on July 1, 2016.