Hebei Steel Industry to speed up consolidation
Hei Yan international is specialized in manufacturing elbow machine,pipe expanding machine,pipe bending machine,hydraulic press,bevel machine .
According to Mr Wang Yifang President of Hebei Iron and Steel Group, "In 2011, we will deepen the integration within the group on one hand and on the other, we will speed up seeking the new pattern and means by which we carry out consolidation with private enterprises and make a pioneering example for the whole steel industry in Hebei Province and help to upgrade its comprehensive competition."
Mr Wang Chang the chief of the Department of Industry and Information Technology of the province said great effort will be made to promote the cross-regional, cross-industry and cross-system of ownership merger and acquisition as well as capital combination, to optimize the industrial layout and resources allocation. The established HISG, Jizhong Energy Group, and large scale port and aerial enterprises should get new achievement in assets consolidation and M&A.
As per report, this November HISG made first and successful trial in regrouping five private steel enterprises. Some source disclosed that in the following several months, there will be a second batch of private enterprises to join the steel kingdom.
There are over 100 steel enterprises in Hebei Province at present, but the number of the private ones owning 1 million tonnes plus capacity has beaten 40. The crude steel output of the private mills has surged from 2.8 million tonnes in 2000 to 86.91 million tonnes in 2009 which corresponds to 65% of the total of the province.
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