Recently, it is learned from the annual meeting of Hebei Iron and Steel Group, Hebei Iron and Steel Co., Ltd. started to operate on January 1, 2010, becoming China’s largest listed steel company.

It is introduced that since the establishment of Hebei Iron and Steel
Group, it increasingly speeded up the practical integration. Completing
the import&export, raw fuel material purchase, products’ sales and
mineral resources’ development, meanwhile, it actively designs to
promote three of the group’s listed steel enterprises’ integration, to
build the uniform capital market platform.

It is learned that in the upcoming one year, Xuangang and Wuyang Iron
and Steel joined in Hebei Iron and Steel, and then Hebei Iron and Steel
will become the large listed company in China domestic steel
production. In the following three years, Hebei Iron and Steel will
absorb the Hanbao company and stainless steel company’s superior assets.

Inside experts believed that through the integration of the listed
companies, Hebei Iron and Steel Group obtained one favorable capital
market platform, which helps Hebei Iron and Steel to get the abundant
fund support for the great-leap-forward development, further increase
the core competitiveness, promote its own sustainable development and
speed up realize the strategic target of becoming the domestic advanced
steel listed company with the powerful competitiveness across the world.

Source: MetalBiz

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