It is reported that Ministry of Industry & Information Technology has formally approved Anshan Steel to regroup with Fujian based Sanming Steel with a bid to speed up economic construction across the Taiwan Straits which will further help to enhance the industrial concentration for upgrading.

MIIT acquired two parties to implement the backward capacity elimination works for industrial regroupings, trying to realize maximization of enterprises’ profits. And Fujian province should further integrate the steel enterprises in local according to the provincial overall planning acquirements, actively playing its own geographic superiorities for the deep cooperation across the Taiwan Straits.

(Sourced from MySteel.net)
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