learn mandarin – New Ansteel established
Anshan Iron and Steel Group Corporation (Ansteel) and Pangang Iron &Steel Group Co. have formally effectuated their long-awaited merger in Beijing Thursday, marking a shrink-to-three between the four State-owned iron and steel enterprises.
Based on the announcement, the newly established Ansteel will not be directly regulated by the State-owned Assets Supervision and Administration Commission (SASAC).
Pangang will stick to the management type of Ansteel unconditionally and upgrade its vanadium-titanium industry in order to equip itself more competitive power, Pangang chairman Pan Zhengwei said.
Zhang Xiaogang, general manager of Ansteel said that the company now aims at becoming a world-leading iron and steel firm, sneaking into the world’s top five group.
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