Anhui Promotes Steel Mergers

In its newly-released restructuring program for the local iron and steel industry, the Anhui government has encouraged large local steelmakers to get more involved in cross-regional mergers and acquisitions with enterprises of different ownership or dealing with business other than steel. Masteel Group, Huaibei Mining and Wanbei Mining have set up assets-based strategic alliance through share holding and joint venture plans. Similarly, Masteel and Xinxing Ductile Pipe have strengthened their control over symbiosis, low-grade limonite, high phosphor-content iron ore and siderite resources inside the province through mergers and share holding plans.