China's Anshan Iron merging with Benxi Steel Group.Anshan Anshan (än`shän`), city (1994 est. pop. 1,251,700), central Liaoning prov., China, on a branch of the South Liaoning RR. Its huge integrated iron and steel complex is the largest in China. Iron & Steel Group, the second largest steel producer in China, has announced plans to merge with Benxi Benxi or Pen-hsi (both: bŭn-shē), city (1994 est. pop. 805,400), S Liaoning prov., China. It is an important heavy industrial center with rich iron and coal mines. Iron & Steel Group. The combined production of the two companies will bring it close to the level of Baosteel Shanghai Baosteel Group Corporation (SSE: B>600019) (Chinese: 上海宝钢集团公司; Pinyin: Shànghǎi Bǎogāng Jítuán Gōngsī Group, the largest steel company in China. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. published reports the combined capacity of the two mills will be around 20 million metric tons, compared to 21.4 million metric tons Baosteel presently has. The merger of the two steel companies follows a trend sweeping the global steel industry, as the largest steel companies are looking to grow their capacity through a host of acquisitions. The combination of the two steel companies could give them a better position to negotiate for the raw materials needed to feed their furnaces. |
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