As announced by Gao Fang, vice director of the Shandong Provincial Economic and Information Commission, in 2012 China's Shandong Province plans to launch mergers and acquisitions within the steel industry and other industries.
However, Mr. Gao said that the three largest steelmakers in the province, namely, Jinan Steel, Laiyang Steel and Rizhao Steel, have not yet released the schedules for their acquisition activity.
Mr. Gao added that by 2015 the number of steelmaking enterprises in Shandong Province is expected to be reduced from 21 at present to five or six. He went on to say that the provincial government in Shandong also plans to carry out acquisition and restructuring activity in other sectors such as cement, gold, tires and rare earth.