Business Activities News
- No plans to merge with Bengang: Angang
Date: 8-Feb-2007 Sources: (Shenzhen Daily)
DOMESTIC steelmaker Angang Steel Co. said yesterday it has no plans to merge with Shenzhen-listed steelmaker Bengang Steel Plates Co.
The Hong Kong-listed Angang Steel said it was responding to a press report, which it didn't specify, that said the two steelmakers would merge next year at the earliest. Angang said there are no negotiations, agreement, or specific proposal relating to any merger plan and said it wasn't aware of any statement by the company's media representatives that could have formed the basis of the report. The parent companies of both listed steelmakers have an ongoing strategic alliance, but there are no plans to extend the pact, Angang said.
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