China Minmetals to undergo major restructuring

Wednesday, 10 March 2010 17:07:15 (GMT+2)

Zhou Zhongshu, chairman of Chinese state-owned metals and mineral trading company China Minmetals Corp., has said that the company is to undergo an overall restructuring, with core assets to be placed in listed companies. Meanwhile, eight subsidiaries of China Minmetals will also be restructured via mergers of those operating in the same product areas; at the same time, other subsidiaries will continue to operate separately without going public.

Mr. Zhou stated that the process of restructuring and going public would be concentrated on the company's ferrous metal and non-ferrous metal operations. He stressed that ferrous metal and non-ferrous metal are the core businesses of China Minmetals, while finance and real estate are diversifications of its main businesses.

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