| Sinosteel Intends to Regroup China's Largest Ferroalloy Venture |
| Tuesday,January 09,2007 Posted: 08:11 BJT(0011 GMT) MOFCOM |
Sinosteel intends to regroup. Jilin Ferroalloy Group Corporation Limited, the largest ferroalloy venture in China. Sinosteel signed currently the reconstruct framework agreement with State-owned Assets Supervision and Administration Commission of Jilin. Relevant specific manipulation is under discussion. Insider of Jilin Ferroalloy Group showed that China's ferroalloy industry was in a low concentration and they hold a positive position to resources of Sinosteel and domestic and foreign marketing network, as well as grogram of integrated development in ferroalloy industry. President of Sinosteel said before that they hoped to push assets from various industries and fields entering capital market within 3-5 years in future. Sinosteel is China's key large state-owned enterprise. It becomes the biggest shareholder of JiLin Carbon Co., Ltd. through purchasing and its subsidiary company Sinosteel Anhui Tianyuan Technology Co., Ltd has successfully listed in Shenzhen Exchange in Aug 2006. (Source: Network Center of MOFCOM) |
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