Shougang announces new plan to absorb Qiangang

摘要

Shougang Co, the listed arm of major Chinese state-owned steelmaker Shougang Group, announced its plan Friday to absorb sister company Shougang Qian'an Iron & Steel (Qiangang), from Shougang Group. Meanwhile, the listed company also promised to take control of the group's iron ore business within three years after Qiangang absorption is completed.