Shougang Steel Group is likely to acquire a majority stake in Jilin-based steelmaker Tonghua Iron & Steel Group (Tonggang) this month, according to a Tonggang official.
Shougang Group, one of China's major steelmakers, celebrated its 90th anniversary on September 2 with a ceremony attended by Secretary of Beijing Municipal Party Committee Liu Qi and Beijing Mayor Guo Jinlong.
Shougang Group, China's eighth largest steel maker, will expand its annual production capacity to 30 million tons by 2012 with new projects in Caofeidian and consolidation in other regions.
Shougang Group, China's sixth largest steelmaker, is in talks to buy Highsee Iron and Steel Group, the largest private-owned steel mill in Shanxi province, according to reports in the 21st Century Business Herald.
Shougang Group, one of China's leading steel producers, is in talk to acquire Guiyang Special Steel Co. Ltd., said Zhu Jimin, Shougang's chairman on Wednesday, China Securities News reported Thursday.