On May 5th 2011, Panzhihua New Steel & Vanadium Company Limited, subsidiary of Sichuan based Chinese steelmaker Panzhihua Iron and Steel, announced that it has successfully concluded its second cash option, which indicates that the merger of Ansteel, subsidiary of Liaoning based Anshan Iron & Steel Group and PSV has been completed.

The merger was approved by the state owned Assets Supervision and Administration Commission on May 20th 2010. The merged company will become a new wholly owned subsidiary of Anshan Iron and Steel Group.

(Sourced from www.steelorbis.com)