At 10:28 am on 2nd November, opening ceremony was held in front of building’s of former Magang Refractory Corporation, which represents the establishment and operation of Ruitai Magang.
 
The foundation of Ruitai Magang is masterpiece of Magang Group and Ruitai Technology for SOE reform(Reform of state-owned enterprises) and transformation and upgrading, promote rapid development of specialization and systematism in industrial sectors, playing positive influence in brand building, industrial status elevation of Ruitai , and diversified development of Magang Group.