Chinese special steel companies merge

A merger has taken place between Panzhihua Iron and Steel Group Company and the Great Wall Special Iron and Steel (Group) Co. Ltd. Panzhihua Iron and Steel, based in Panzhihua City of SW China’s Sichuan Province. The Panzhihua company, with 30 billion yuan (about 3.62 billion US dollars) in total assets, produces 5.3 million tons of steel a year, and is also one of the world’s major producers of vanadium and titanium. Great Wall Special Iron and Steel (Group) Co. Ltd., founded in 1965, is the biggest special iron and steel maker in west China. Great Wall Special Iron and Steel Co. Ltd., a subsidiary of the company, went public in 1994. The Great Wall Special Iron and Steel group is capable of annually producing over 400,000 tons of special steel in 350 specifications which are used in aviation, aerospace, nuclear industry, electronics and telecommunications, petrochemical industry, energy and transportation sectors.

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