Progress in Anshan, Benxi steel merger by the year's end

ANSHAN, Liaoning - The merger between Anshan Iron & Steel Group and Benxi Iron & Steel Group will make substantive progress by the year's end, Anshan Steel Chairman Zhang Xiaogang said on Friday.

Anshan Steel announced in 2005 that it agreed to acquire Benxi Steel to form Anben Iron & Steel Group, however, the two firms have yet to transfer their operating assets to the new entity.

The companies' financial, sales and purchasing departments have yet to be integrated.