"Tangshan Iron and Steel Group and Handan Iron and Steel Group will probably merge; the question is when," an official from Hebei Provincial State Assets Supervision and Administration Commission (SASAC) told 21st Century Business Herald on April 8. New management teams have been recently appointed to both steel groups.
"The provincial government and provincial SASAC hope the two steel makers will consolidate and grow their separate businesses for a period and merge when conditions are favorable," said the official.
For more details, please read the full story in Chinese (http://finance.sina.com.cn/chanjing/b/20080409/07504723476.shtml).
(Xinhua News Agency April 9, 2008)
