Hanzi Industrial International Co., Ltd Hanzi Industrial International Co., Ltd
Email Us
  Home About Us Products News Contact Us  
steel plate
Product Categories
Steel Rail
Steel plate
Steel Pipe
Steel Profiles
Chequered Plate
Home >> News

Anshan Steel urges no politics

Edit:HanZi     Click:2832     Time:2010-9-29 13:48:59
A planned investment in the United States by China's Anshan Iron & Steel Group, which has concerned some US politicians, will create jobs and be good for the US, the company's president was quoted as saying.

Zhang Xiaogang told the magazine Economic and Nation Weekly that the deal should not be politicized as it was a purely business decision.

The state-owned group, the parent of Angang Steel Co, has agreed to pay US$175 million for less than a 20 percent stake in a rebar plant that Steel Development Co, a US start-up, is building in Mississippi.

A bipartisan group of 50 US lawmakers called last month for an investigation, expressing deep concern that the investment "threatened US jobs and national security."

Zhang said the investment was only for a relatively small 14 percent stake in Steel Development Co.

"The investment is a purely commercial decision, and we hope it is not politicized," he said. "We make investment decisions in the United States and other regions based on market demand. The newly constructed plant will increase employment opportunities in the area, promote economic development and increase tax income."

The US, as the largest economy in the world, was an ideal place for such long-term investments, he said.

The company has received no formal notification that the US government plans to investigate the deal, Zhang added.

China's Commerce Ministry has branded the US lawmakers protectionist for seeking to block the investment by the fourth-largest steel maker on national security grounds.

US steel firms have complained about unfair competition from China and have won several US anti-dumping duties on Chinese steel goods.
[ Back ] [Print ]
Recommend Products
Steel Rail
Steel plate
Corten Steel plate
Ship Building Plate
Bulb Flat
Flat Bar
Angle Bar
Shipbuilding Pipe
Sainless Steel Pipe
Carbon Steel Pipe
Stainless Steel Tube
Stainless Steel Plate
Chequered Plate
Contact Us
E-mail: info@shipplate.com
Home | About Us | Products | News | Contact Us | Privacy Policy | FAQS
Copyright © 2010-2012 Hanzi Industrial International Co., Ltd All rights reserved.