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Liaoning ABC
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Liaoning< Business News
 
Steelmakers Angang, Benxi plan merger (2004-01-09)

Bo Xilai, governor of the China's northeastern Liaoning Province, said he hopes the central government will approve plans to merge the country's second and fifth largest steelmakers, Anshan Iron and Steel Group Co Ltd and Benxi Iron and Steel Group Co Ltd. Anshan Iron and Steel is the parent of Hong Kong and Shanghai-listed Angang New Steel Co Ltd, while Benxi is the parent of Shenzhen-listed ST Bengang Steel Plates Co Ltd. "We hope the merger can be finalized by this year," Bo said on the sidelines of a news conference to promote the revitalization of three northeast rustbelt provinces. "Since Anshan Iron and Steel is directly under the jurisdiction of the central State-owned Assets Supervision and Administration Commission (SASAC), SASAC will play a significant role in the whole plan. We, as the local government, will actively support it."
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