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Anshan Steel in merger talks with Panzhihua

February 08, 2010 - 08:04 GMT Location: Shanghai

KEYWORDS: angang , capacity , china , lingyuan steel , pangzhihua steel , dongbei special steel , benxi steel , merger

Anshan Steel has completed merger negotiations with Panzhihua Steel as part of its plan to form the next 50 million tpy mega-mill in China, said a company official.

Negotiations have been completed but the final decisions on such things as manpower allocation and tax flows at the regional level will come from Beijing as Anshan Steel is state-owned, said the Anshan Steel official. Tax flow is an important consideration in the merger as 7 million tpy Panzhihua Steel is partially private-owned, and the local authorities in south-western Sichuan...

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