Data:2009-12-12 2:34
Category: Money Tips Date: 2006-10-17
Bayi Iron & Steel (600,581 market, information, reviews, search) yesterday issued a public notice, the company's controlling shareholder Bayi Iron & Steel Group and Baosteel Group signed an agreement asset restructuring, according to the agreement, Baosteel will spend 3 billion yuan to obtain 8 Steel Group 69.61 % stake, while the Xinjiang Autonomous Regional Government of the land 330 million capital increase, to get 15% of the shares. Capital increase is completed, Bayi Iron & Steel Baosteel to become the controlling shareholder, the "new eight-Steel" will be formally completed the reorganization.
Xinjiang Bayi Iron & Steel is the largest steel manufacturer, has certain regional advantages and resources, but from a national perspective, small-scale iron and steel industry in the country so require an integrated environment, companies rely on self-development can not be done in the industry Big and strong, with Baosteel restructuring will facilitate future development. 8 The main products of steel construction steel in the Xinjiang region over 70% market share, in addition, Xinjiang borders with five countries in Central Asia, Central Asia, a relative shortage of building materials production capacity, export of steel products more convenient 8 has now begun to penetrate these neighboring countries . The acquisition is completed, eight Baoshan Steel will be in the northwest region's "bridgehead", the use of mineral-rich Xinjiang, also can develop the Central Asian country's abundant resources and steel consumer market.
Sun Yong, an analyst at Galaxy Securities believes that the company in 2006 results are expected to 0.30 yuan, as the company's sheet products into production, output increase and value-added products improve the performance in 2007 is expected to 0.45 yuan. Taking into account the possible Baoshan Iron and Steel took over the company to bring technology and management advances, and the company's location and resource advantages, the prospects for a better company. To maintain the company's "recommended" rating.