Three steel Minguang trusteeship of "remote refueling" of Angang Steel restructuring of Angang Steel Group Co., Ltd.
three steel Minguang trusteeship of Angang Steel restructuring of Angang Steel Group Co., Ltd.
China Construction machinery information
Guide: three steel Minguang announced today that the board of directors of the company set the stage for the next acquisition of this part of the equity through the 32% equity of China International Steel Products Co., Ltd. (hereinafter referred to as Sinosteel) held by the relevant trusteeship metallurgical holdings. Data shows that Sinosteel is a Sino foreign joint venture established in 1984 with a strong desire for domestic mines to rise
Minguang of Sansteel announced today that the board of directors of the company has foreshadowed the next acquisition of this part of the equity by trusteeship of the 32% equity of China International Steel Products Co., Ltd. (hereinafter referred to as "Sinosteel") held by metallurgical holdings
according to the data, Sinosteel is a Sino foreign joint venture established in 1984. Among them, Xiaojiao rolling mill of Fujian Sanming Iron and steel plant invested US $6.88 million, accounting for 43%; Metallurgical holdings contributed US $5.12 million, accounting for 32%; Ziclink Int l Inc. invested US $4million, accounting for 25%. The company's main production process equipment includes 1 high-speed wire rod production line to avoid the damage of improper operation to the equipment, 1 high-quality bar, 3. Main functions and characteristics of the material production line, with an annual production capacity of about 1.2 million tons (including 800000 tons of high-quality bars, 400000 tons of high-speed wire rod), and the main products are wire rod, round steel, deformed steel, etc
in 2010, Sinosteel produced 359400 tons of wire rod, 11800 tons of round steel and 414200 tons of deformed steel; The main business income was 2.547 billion yuan, and the total profit was 12.2547 million yuan. As of December 31, 2010, the total assets of Sinosteel were 1.834 billion yuan and the net assets were 76 million yuan
the custodian of this equity custody is metallurgical holdings, which now holds 94.49% of the equity of Sansteel group, the controlling shareholder of Minguang of Sansteel. Minguang of Sangang said that this trusteeship is to avoid horizontal competition between metallurgical holdings and the company due to its participation in Sinosteel. At the same time, it is conducive to giving full play to the synergy, consolidating the company's regional leading position and market share in the Fujian steel industry, and preparing for the company to choose the opportunity to acquire the 32% equity of Sinosteel held by metallurgical holdings
according to the announcement, the term of this equity custody is from 4 Flatten the impact specimen and put it into the gripper for clamping. From January 1, 2011 to the date when metallurgical holdings transferred 32% of the equity of Sinosteel to Minguang of Sansteel, the custody fee for 2011-2012 is tentatively set at 300000 yuan per year
1 month ago, Minguang of Sansteel disclosed that the controlling shareholder of the company, Sansteel group, planned to cooperate with Angang Group for restructuring, and the restructuring plan has been reported to the Ministry of industry and information technology. Once the plan is approved and implemented, the actual controller of Minguang of Sansteel will be changed from metallurgical holdings to Angang Group
before that, the state owned assets supervision and Administration Commission of Fujian Province has converged the equity of steel enterprises in the province. At the end of 2009, 54% of the equity of San'an iron and steel held by metallurgical holdings was transferred to San'an iron and Steel Group free of charge; At the beginning of this year, the state owned assets supervision and Administration Commission of Fujian Province transferred all the equity of Sansteel group to metallurgical holdings, which became the actual controller of Minguang of Sansteel. Due to the certain overlap between the business of San'an steel and that of Min Guang of San steel, in April 2010, min Guang of San steel had entrusted 53.9733% of the equity of San'an steel held by San steel group, making preparations for the acquisition of this part of the equity at the right time
from this point of view, the equity of Sinosteel held by Minguang trusteeship metallurgical holdings of Angang Steel is also an important prelude to the restructuring of Angang Steel Group
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