Panzhihua Iron and Steel Industry Consolidation in the reorganization of Anshan
According to media reports, a level close to the SASAC official in charge, the SAC will be the final decision by the Anshan Iron and integration of Panzhihua Iron and Steel. Prior to the integration of the Department of Panzhihua Iron and Steel, Anshan Iron and Steel Group as a third party cash options, and in August after a more other Steel Stock valuation levels much higher prices in the secondary market to buy Panzhihua Iron and Steel Group, Panzhihua Steel and Vanadium three listed companies, the Great Wall of shares, climbed Chongqing Titanium's outstanding shares to three shareholders of public listed companies added Second cash option. Obviously, Anshan Iron and Steel Group to pay such a high price is unlikely to just "help", it is possible to integrate in the Panzhihua Iron and Steel Group to seize the initiative.
In the steel industry's boom of recent years, low down time, this integration will occur in the bottom of the Anshan Iron and Steel and Panzhihua Iron and what impact? Is still unknown. Origin of Panzhihua Steel overall market
2007 11 5, Panzhihua Iron and Steel series "Three Brothers" Panzhihua Steel and Vanadium, Titanium Pan Yu, ST long steel suspension nearly three months later, at 10:30 resumption of the daily limit their mouths shut . Panzhihua Iron and Steel formally kicked off the whole market. Under the program, Panzhihua Steel and Vanadium to private placement of 7.5 million shares, raising not more than 7.5 billion yuan of funds the purchase Panzhihua Iron and Steel Group, Panzhihua Iron and Steel Co., and climbing into steel steel assets, while convertible mergers in Phang Yu Titanium and ST Long Steel's assets. The deal, if successfully implemented, Panzhihua Iron and Steel Group's operating assets will be fully into the Panzhihua Iron and Steel and Vanadium.
The overall market for any company with many subsidiaries for the central enterprises are not a simple matter, therefore, until six months after the June 24, 2008, Panzhihua Iron and Steel's three listed companies were only held a provisional shareholders meeting Panzhihua Iron and Steel Group's consideration of the specific motion related to the overall market. In the end, both on-site voting or Internet voting, were shareholders overwhelmingly approved the motion. Thus, the overall listing of Panzhihua Iron and only wait for the pass to the Commission for approval.
Panzhihua Iron and Steel Group, Panzhihua Steel and Vanadium, chairman and chairman of the political Wei Fan general meeting of shareholders has been explained in detail the reasons for the listing of Panzhihua Iron and Steel as a whole. In his view, Panzhihua Iron and Steel's three listed companies belonging to the three places, subject to geographical restrictions, if the independent development of various enterprises, will become a mess and lack of competitiveness. Integrated into a publicly traded company, not only to climb into steel, long steel climbing a useful resource integration, and is located in Panzhihua City, Panzhihua Steel and Vanadium mining and low cost, the three listed companies, purchasing, sales and lower costs along to really improve the competitiveness of the whole group.
In this major restructuring, the Anshan Iron and Steel Group was May 7, 2008 Panzhihua Steel and Vanadium become a major reorganization of the cash option to a third party, analysts say, this is the integration of Panzhihua Iron and Steel Group intervention fall of a key piece. Significant increase in funding pressure
Angang Then Angang said it will be as reported integration of Panzhihua Iron and Steel ones? If yes, right at the Anshan Iron and Steel industry slump in the environment will bring new growth opportunities it?
Anshan Iron and Steel Group Corporation, a senior economist at the internal, told reporters that the current integration of Panzhihua Iron and Steel Angang said bad things, but that will not short-term integration of Anshan Iron and Steel formed the obvious positive. First, the current downturn in the steel industry, the production of steel in compression, Anshan Iron and Steel has not reached furnace rate. Since many household appliances exports decline, leading to lower demand. To do is steel material lesser extent, such as Anshan Iron and Steel to board as the main products affected a relatively larger companies. In addition, the Anshan Iron and Steel for a lot of money out of this restructuring, resulting in financial pressure is quite large, even if successful in Panzhihua into its short term operating results will not have much help.
Fact, "Department of Panzhihua Iron and Steel" integration can not be completed before November 28, Steel and Vanadium GFC1 holders can exercise this way and Panzhihua Iron and Steel and Vanadium shareholders receive the same cash option. Nov. 19 closing price of steel vanadium GFC1 only 6.73 yuan, after exercise the conversion price of 9.59 yuan and 8.58% of the space there between. If the Steel and Vanadium GFC1 holders of cash, then all options for "Panzhihua system" integrated Anshan Iron and Steel Group will increase expenditures up to about 7.1 billion.
We are high quality suppliers, our products such as E1 fiber optic modem , 8-channel optic video multiplexer for oversee buyer. To know more, please visits TDM over IP.
Processing your request, Please wait....
