300 million tons of steel capacity black households will be annexed - Notching Machines

"Joint restructuring the steel industry guidance" will be issued

Yesterday, "the joint reorganization of the steel industry guidance," one of the drafters, the Chinese Research Center of Metallurgical Industry, deputy director of economic development Liuhai Min told reporters that the opinion of 300 million tons but the reality there has not been Zhunsheng Zheng steel production a way out: to be the current large-scale iron and steel enterprise mergers. In response, the Department of Industry and Information Technology vice minister, said Miao Wei, the opinions issued soon.

Yesterday, reporters got on Feb. 5 at the China Iron and Steel Association in 2010 recording an enlarged member, Deputy Minister of Industry and Miao Wei said at the conference, developed by the Ministry of Industry and the "guidance of the steel industry consolidation and reorganization views "will be issued, which has not been approved as a merger of steel production can not principal, but can be annexed as the main body.

It is understood that China's crude steel production of 568 million tons last year, but legally only about half of steel production, and about 300 million tons of steel production is unauthorized produced iron and steel production.

This, the reporter interviewed one of the drafters of the opinion Liuhai Min. Liu Haimin said the reorganization as a joint promotion measures, "the joint reorganization of the steel industry guidance" provides production of steel has not been approved can be mergers, but the merger parties must not breach the project company; be annexed side in addition to capacity has not been approved than others to be legitimate.

This means that China's steel production capacity of about 300 million tons, "black households" will be recognized by the Government, and become joint reorganization, nurturing one of the means of large steel mills. It is reported that large steel companies are listed companies, mergers and restructuring in the past, when such assets into listed companies because the assets can not be quite hesitant.

Liu Haimin introduced, these "black family" though without the approval of production, but has been in production, part of which was advanced production capacity, even if the Government does not endorse, they exist in reality. 300 million tons, "black households," most of the control of production in the hands of private enterprises, some state-owned enterprises have not been approved steel production capacity.

However, the reporter learned that, when seeking the advice provided by the parties in the opposition, which is equivalent to the approved capacity of these black families, but Liu Haimin believe that these capacity equivalent of born children, can not eliminate, sooner or later have to admit, it is better to take advantage of consolidation and reorganization of domestic forward to resolve this issue.

Countries to develop "iron and steel industry consolidation and reorganization of guidance" is to increase the industrial concentration degree of China Iron and Steel Industry, now the top 5 largest steel companies in China can produce less than 29% of the country's total, U.S. 4 steel output accounts for 61%, Japan 4 steel production accounts for 75%.

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