Zhang Xiaogang, general manager of Chinese steelmaker Angang Steel, has stated that the merger of the company with Benxi Iron&Steel Group will be take place before the end of the current year.
Mr. Zhang stated that practical measures will be taken towards the merger of the two companies. While the two companies came together and established a joint venture Anshan-Benxi Group in 2005, actual integration work has not taken place in the time which elapsed since. The product structures and target markets of the companies are very similar.