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Hebei Iron & Steel Group has inner regrouping

Tuesday, Oct 07, 2008

According to insider from Hebei Iron & Steel Group ""The group, headquartered in Tangshan at present, will be moved to Shijiazhuang. But its operation, including sales, internal trade and purchases, will be kept in Beijing continuously. He said that the group's resource integration had been framed.”

Mr Wang Yifang the group's board chairman and general manager on September 18th said in an interview that the group has already finished the combination of Tangshan Steel and Handan Steel. A mining venture and an international trading company had been founded as well. And the consolidation of both raw material purchasing and finance would be completed soon.

He said that the steel group would reach an annual capacity of 50 million tonnes by the end of 2010 with prerequisite of obsolete elimination and optimized structure. And the capacity of Tangshan Steel and Handan Steel will amount to 30 million tonnes and 15 million tons respectively by the time.

Insiders from the steel group unveiled that the steel group would firstly choose private steel makers with advanced technologies and management, especially those in coastal areas. Mr Wang also added that Hebei Steel Group's overall industry arrangement would be gradually transferred to Caofeidian, Jingtang Port and Huanghua Port.

 

Source: SteelGuru

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