| China's leading steel maker reports leadership reshuffle |
| Tuesday,February 27,2007 Posted: 07:13 BJT(2313 GMT) Xinhua |
SHENYANG, Feb. 26-- Angang Steel Company Limited, a plc commonly known as Ansteel, announced on Monday that Liu Jie, chairman and member on Ansteel's board of directors, had resigned from both posts because of retirement. Ansteel is the steel making subsidiary of Anshan Iron and Steel Group Corporation, a diversified conglomerate with headquarters in Anshan, a city in northeast China's Liaoning Province. The board of directors with Ansteel has agreed that Tang Fuping, the incumbent vice chairman of the board, should serve as the acting chairman until late March when shareholders will hold a congress and formally elect a new chairman of the board. The board of directors of Ansteel also suggested that Zhang Xiaogang, the incumbent general manager of Anshan Iron and Steel Group, serve as a managing director on the board. Zhang was elected president of China Iron and Steel Industry Association (CISIA) early this month. When shareholders meet late in March, they will discuss the proposal about Zhang's appointment as the managing director on the board of directors with Ansteel and vote for their decision. Anshan Iron and Steel Group produced 15 million tons of iron and 15 million tons of steel last year and will make 16 million tons of iron and 16 million tons of steel this year. China's steel industry generated a record 170 billion yuan (about 21.25 billion U.S. dollars) in gross profits in 2006, up 39.8billion yuan (about 4.98 billion U.S. dollars) or 30.6 percent year on year. |
All articles marked with "Article type: Original" posted on the website of the Ministry of Commerce and its sub-sites are copyrighted by this Website and its sub-sites. Any reproduction or use by any other websites, media or individuals must be attached with a clear indication of "Source: Ministry of Commerce Website".
All articles posted on this website or its sub-sites marked with "Article type: reproduced" or "Article type: translated" and "Article type: redistributed" come from other media, and are provided solely for the user's information, which does not mean this Website or its sub-sites endorse the ideas thereof or assume any legal liability or responsibility for their authenticity. Any other media, websites or individuals must maintain the source of information indication on this Website or its sub-sites when using the information, and shall assume legal liability for the use.
