Baosteel aims to enter among world top three by 2012_财经新闻

Baosteel aims to enter among world top three by 2012

文章来源：文章作者：发布时间：2007-05-15 01:39 字体： [大中小]　进入论坛

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Chinanews, Shanghai, May 14 – The Baosteel corporation is implementing¹ a new round of strategic developmental plans. After successfully making its core business go public in the stock market and pushing forward the share reform, the company has set its new goal: to become one of the top three steel giants in the world and boost its ranking position to within 200 in the world top 500 list by 2012. In order to reach this goal, Baosteel is taking a series of merging² activities.

Last Thursday, Baosteel Group signed an agreement with the Handan Iron and Steel Company (Hangang) for the construction of a new steel production line. After completion, it will be able to produce 4.6 million tons of fine steel sheets every year.

This is another big cooperative project taking place across two different regions. Previously³, Baosteel had finished a reorganization project by acquiring the Xinjiang Ba Yi Iron and Steel Group.

According to the agreement, the new steel production line will be called Hangang Hanbao Company. The Baosteel and the Handan Iron and Steel Company will each hold 50% of the shares of the company, with Baosteel investing mainly in cash and Hangang investing in both cash and real assets.

With a total investment of 19 billion yuan, the establishment of the Hangang Hanbao Company will play a positive role in streamlining domestic steel industrial structure and making domestic companies sustain market fluctuations⁴ brought by foreign steel companies. It will also pave the way for further cooperation between Baosteel and Hangang, said Xu Lejiang, president of Baosteel.

With a history of 50 years, the Handan Iron and Steel Company now has an annual steel output of 8 million tons. By cooperating with Baosteel, Hangang intends to make more value-added fine steel products, including tubes, wire rods, steel plates for autos and household electric appliances. The new steel company is expected to be completed by 2010. By that time, Hangang will become a production base able to produce over 10 million tons of steel slabs⁵ every year.

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收听单词发音

1 implementing
v.实现( implement的现在分词 )；执行；贯彻；使生效
参考例句：
-- Implementing a comprehensive drug control strategy. ――实行综合治理的禁毒战略。来自汉英非文学 - 白皮书 He was in no hurry about implementing his unshakable principle. 他并不急于实行他那不可动摇的原则。来自辞典例句

2 merging
合并（分类）
参考例句：
Many companies continued to grow by merging with or buying competing firms. 许多公司通过合并或收买竞争对手的公司而不断扩大。来自英汉非文学 - 政府文件 To sequence by repeated splitting and merging. 用反复分开和合并的方法进行的排序。

3 previously
adv.以前，先前（地）
参考例句：
The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。 Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。

4 fluctuations
波动，涨落，起伏( fluctuation的名词复数 )
参考例句：
He showed the price fluctuations in a statistical table. 他用统计表显示价格的波动。 There were so many unpredictable fluctuations on the Stock Exchange. 股票市场瞬息万变。

5 slabs
n.厚板，平板，厚片( slab的名词复数 )；厚胶片
参考例句：
The patio was made of stone slabs. 这天井是用石板铺砌而成的。来自《简明英汉词典》 The slabs of standing stone point roughly toward the invisible notch. 这些矗立的石块，大致指向那个看不见的缺口。来自辞典例句

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