Inner Mongolia-based Chinese conglomerate Erdos Group recently held a meeting to discuss merger activity among its various coal companies.
Accordingly, consolidation of coal enterprises in Erdos Group will result in a decrease in the number of the group's coal companies from the current 300 to 40 by the end of 2011. Meanwhile, one or two coal producing companies are to be formed within the group with annual capacities of 100 million mt. After the mergers, there will be 10 companies in the group with annual sales revenues of RMB 10 billion ($1.5 billion) and over.
Erdos Group's main interests are in cashmere, coal, power, metallurgy, chemical products and real estate.