On the morning of April 19, the signing ceremony of integral property right assigning agreement between Sinosteel and Xingtai Mill Roll (Group) Co., Ltd. was held in Guangzhou Plaza, Beijing. Sinosteel president Huang Tianwen and Xingtai SASAC director Sun Lanxue signed on the agreement. According to the agreement, Sinosteel received the integral property right of Xingtai Mill Roll. Xingtai mayor Jiang Deguo, vice mayor Dai Zhanyin, Sinosteel vice president Wang Zhenwu, chief accountant Liu Andong, Xingtai Mill Roll chairman Zhao Jianpeng, GM Xue Linghu attended the signing ceremony. Those who also attended are: leaders from relative departments of Xingtai Government, heads of Sinosteel functional departments and specialized companies in Beijing and leaders of Xingtai Mill Roll.
With good reputation, Xingtai Mill Roll is the largest in Asia, second largest in the world mill roll production enterprises with advanced technique, large scale and extensive product varieties. Its mill roll and metallurgical equipment products are mainly for Baosteel, WISCO, Anben Steel, North China Alumium, Northwest China Alumium, and medium-to-large sized steel mills and non-ferrous product companies in developed countries as USA, Germany, UK and Japan.
On January 20, Sinosteel, Xingtai SASAC and Xingtai Mill Roll signed the Property Right Assigning Framework Agreement in Shijiazhuang. In the last three months, with the concern & support from Xingtai Government and efforts from all sides, work has been done step by step. Now, Xingtai Mill Roll operates well. The acquisition received support from Xingtai Government, leaders and the staff.
The signing of the property right assignment marks that Xingtai Mill Roll formally becomes a member of Sinosteel, with important practical meaning and historical significance for Xingtai economic development, the long-term development of Xingtai Mill Roll and the improvement of Sinosteel core competence and overall strength. With Xingtai Mill Roll enrolled, Sinosteel will fully exert its advantages in resources, market, talent and management, effectively utilize Xingtai basic condition, consolidate technological innovation and consentrate on self-R & D to establish a specialized, professional and strong equipment manufacturer. Sinosteel will complete the relative procedure and management according to the agreement, improve Xingtai technical equipment R & D, design and manufacture level so as to bring Xingtai Mill Roll the most advanced mill roll R & D and production base.
Sinosteel President Huang Tianwen and Xingtai SASAC Director Sun Lanxue Signing on Agreement
Successfully Complete of the Signing Ceremony
President Huang Tianwen and Xingtai Mayor Jiang Deguo Talking with Each Other