Shougang 2.5 billion yuan restructured Tong steel

Shougang and Tong Steel restructuring finally settled.　　July 16, Shougang Corporation, Shougang Holding company restructured Jilin Tong Steel Group signing ceremony held in Changchun, Shougang will contribute 2.5 billion yuan in cash by the Jilin Province Sasac Holdings of some shares of the Tong Steel group and to the steel group to increase capital.　　According to the agreement, Jilin Province Sasac will be transferred to the Shougang Corporation of some of the steel group shares, after the reorganization, Shougang Corporation and Shougang Holding company will be the total holding of the steel group 77.59% of the shares, in addition, China's financing companies hold 10.33%, Jilin Province Sasac holds 10%, other small shareholders hold 2.08%. The reporter learned that shougang restructuring through steel Group, the Development Plan of Tong Steel will be included in Shougang "Twelve-Five" planning, the production and operation of Steel, project construction and other matters into the iron and steel main flow management system, through technical upgrading, adjustment of product structure, extension of industrial chain and diversified management measures, to achieve "Twelve-Five"　　The end of the end of the steel group sales revenue doubled, per capita sales revenue, sales costs, asset profitability, equity returns and other indicators to achieve Shougang average level.　　Industry insiders pointed out that restructuring for both sides is a good thing, through steel can learn Shougang's construction steel and high-grade sheet production experience, and Shougang can share to the regional advantages of steel. Shougang Corporation chairman Mr Zhu also said that the reorganization of the two sides is to carry out the national revitalization of the old industrial base strategy of a strategic move, is conducive to the future development of the steel group, in favor of Shougang further optimize the industrial layout and structural adjustment.　　Shougang will support the steel bigger and stronger, enhance regional competitiveness, make it become the Northeast region more competitive advantage enterprises. For some time, the steel industry has been restructured. First Baosteel and Shao Steel, Guang steel reorganization, the establishment of Baosteel holdings of Guangdong Iron and Steel Group Co., Ltd., after the reorganization of Angang and Pangang after two years of brewing, and finally the dust settled.