Iron and steel assets are expected to be injected into Fujian light

Three steel min Light today announcement, the big shareholder three steel group just obtains three Angang Steel's controlling right, possibly with the company constitutes the competition.　　The big shareholders promised to inject the three-an steel stake into the company in due course.　　According to the Fujian provincial government, the Fujian Metallurgical (holding) company held a 53.9733% stake in the three-iron Steel holdings, which became the controlling shareholder of three steel. Data show that the three-an iron and steel business scope for the production of pig iron, billet, steel and broadband profiles, the main products hot-rolled ribbed bar and three steel min light may constitute the competition.　　In this respect, three steel group commitment, in the relevant conditions, the three steel group will be in a timely manner will be three iron and steel equity transfer to the three steel min light; Prior to the acquisition, the three steel group will entrust three steel shares entrusted three-light management, the custodian fee is expected to be 150 to 2.5 million yuan per year. The company said that the trusteeship of the three-an iron and steel in favor of the company unified coordination of raw materials resources and varieties market.　　In the long run, the acquisition of three Angang steel can improve the concentration of the steel industry in Fujian. However, because of the macro-environmental impact, the current profitability of the three-Ann steel is not optimistic. 2008, the company's main business income of 4.422 billion yuan, profit of 11 million yuan, this January-September, the realization of the main business income of 2.546 billion yuan, profit-117 million yuan. As of September 30 this year, the total assets of the three-Angang steel is 3.402 billion yuan, net assets of 714 million yuan.