China Baowu and Sinosteel Group launched a strategic reorganization to optimize the layout of the steel industry and accelerateFly into the homes of ordinary people
Source/Orient IC
Xinmin Evening News (Reporter Ye Wei) The launch conferences of the reorganization of Baowu and Sinosteel in China were held yesterday in Beijing and Shanghai. With the approval of the State Council, China Baowu Iron and Steel Group Co., Ltd. and Sinosteel Group Co., Ltd. have implemented a reorganization. Sinosteel Group Co., Ltd. was merged into China Baowu Iron and Steel Group Co., Ltd. and was no longer directly supervised by the State Asset Supervision and Administration Commission.
China Baowu and Sinosteel Group have strategic fit and complementary advantages. The reorganization of the two companies is of great importance to optimize the layout of my country’s steel industry and improve the modernization level of the steel industry.
With the joint reorganization and entrusted management of many leading enterprises in the industry in recent years, the achievements of China Baowu’s joint reorganization and professional integration have been tested by the market and widely recognized by the industry. Since China Baowu took over the trusteeship of Sinosteel Group for two years, the reform and development of Sinosteel Group has made remarkable achievements: its operating performance has continued to improve to the best level in history, major progress has been achieved in debt restructuring and equity transactions have blossomed in multiple areas. The board was successfully listed. The total market value of the two listed companies, Sinosteel International and Sinosteel Tianyuan, increased by 64% compared to that before the trusteeship , bucking the trend and outperforming the market index.
According to reports, China Baowu will take this reorganization as an opportunity to actively play the role of state-owned capital investment company, further optimize the state-owned capital layout and structure, and promote deep integration with Sinosteel through a package of “debt restructuring + enterprise integration + management reform”, as well as extensive synergy in R&D innovation, asset guarantee, new material upgrades, industrial finance, etc., to maximize the synergy effect of integration and integration and to improve the industrial competitiveness of high-quality state-owned assets of central enterprises and the level of security of the entire industrial chain. Sinosteel will fully integrate into China Baowu’s industrial ecosystem through China Baowu’s industrial empowerment and professional integration, and further exploit its industrial advantages in mineral resources, new technology materials, engineering technology, equipment manufacturing and other fields to cultivate and develop a batch of new products specialized enterprises and individual sample enterprises in the field of industrial segmentation.
Publisher: Gaoyang
