- Wednesday 2010-03-10 19:13
Anshan Iron and Steel Group may complete its restructuring of Benxi Iron and Steel Group in 2010, reports China Securities Journal, citing Zhang Xiaogang, general manager of Anshan Iron and Steel Group. Yu Tianchen, chairman of Benxi Iron and Steel Group, said that the two groups will make great progress in restructuring.
Data from China Securities Journal showed that Angang Group, after the restructuring involving Anshan Iron and Steel Group, Benxi Iron and Steel Group, Pangang Group, Dongbei Special Steel Group and Lingyuan Iron and Steel Group, will become the largest maker of crude steel in China with annual production capacity of 42 million tons of crude steel.
According to data from China Iron and Steel Industry Association, Anshan Iron and Steel Group recorded crude steel production of 20.13 million tons in 2009 while Benxi Iron and Steel Group produced 9.06 million tons and Dongbei Special Steel Group produced 1.6 million tons.
Combining the 8.18 million tons produced by Pangang Group and 3.07 million tons from Lingyuan Iron and Steel Group, the Angang Group that will emerge from the restructuring will have annual production capacity of 42.04 million tons of crude steel.
