China would create megafusion for steel-making


China became the post-head of the Baoshan Iron and Steel Company for the appointment of the rival company of Ansteel Group Corp., confirming the expectation of the two partner companies to combine and create a steel stack that would surpass ArcelorMittal as the world's largest producer, according to people near to its & # 39; subject. The sections of sectors of public bodies have become very popular.

Baoshan's parental pressure and China's biggest representative, Baowu Steel Group Corp., would help achieve its 100 million tonnes of annual production by 2021, and the government to meet the His goal to be & # 39; Focusing 60% of the production in the hands of their 10 main plants by 2020 said that the people, who asked them not identified as the public information, said Bloomberg.

The diary databases did not appear for the agreement and said the plan could still suffer changes

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Baoshan named Monday that his president, Dai Zhihao, retired. The United States State Audit and Administration Commission (Sasac), which is in charge of the two companies, said on Wednesday in his Weibo account that Dai would accept his / her. An active location in Ansteel.

Ansteel Group is the third largest steel company in China, and Baowu itself has resulted in a second year exchange rate. Together, the two companies made 101 million tonnes of steel in 2017, according to the World Earth Society, about 4 million tonnes more than Arcelor. At the end of last year, their revenue up to 493,000 million yuan (US $ 71,000 million), just over US $ 69,000 million.

The general ambition in China, the world's biggest steel producer, is to develop the department by controlling the ability, and its ability. consolidate the product and reduce pollution. It is a descriptive of what companies are likely to be together, and a report in September said Baowu was in talks to Magang Group Holding Co. available

Sasac did not respond to a fax asking for ideas. Baowu's speakers, based in Shanghai, and Ansteel, Anshan, Liaoning, said they did not know the joint plan and did not consider further.

Divisions arise in listed areas, which prevent previous loss; Baoshan rose to 3.4% in Shanghai and Angang Steel Co., up 8.4% in Shenzhen. Shanghai Shanghai Packaging Pack has built the highest price price allowed in Shanghai Stock Exchange.

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