New steel firm melting pot of consolidation
By Hou Qingyang | China Daily | Updated: 2010-02-25 08:02
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A Jigang employee works in front of a furnace at the company's plant in Jinan, Shandong province. Wang Zhide |
Jinan Iron and Steel Co Ltd (Jigang) will acquire Laiwu Steel Corporation (Laigang) through a share swap, paving the way for the backdoor listing of their controlling shareholder Shandong Iron and Steel Group Co Ltd (Shangang).
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