The Taiwanese government is attempting to speed up plans to privatize the country's oldest stainless steel producer, Tang Eng Iron Works. The company is currently engaged in sale talks with Taiwan's largest steel producer, China Steel Corp.Tang Eng has been the subject of talks between the state's privatization agency-the Commission for National Commission for National Corporations- and potential bidder China Steel but, unlike previous discussions held during the 1990s, Tang Eng is now planning to privatize its stainless operations first. The stainless steel unit accounts for more than 80 percent of the entire steelworks, a company official said.
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