"The strategic partnership has helped the company sharpen its competitive edge and increase the driving force of its core business," he said.

    The manufacturing of refractory materials, carbon, ferroalloy and machinery equipment are also major sectors to help the corporation reach its goal, Huang said.

    Its production chain will be further expanded through purchasing, restructuring and merging domestic enterprises which hold important positions in varioU.S. industries.

    For instance, Sinosteel has taken 50 percent of the Jilin Carbon Co Ltd, China's largest carbon enterprise, which provides materials to the country's nuclear power plants. "The acquisition of Jilin Carbon is expected to help Sinosteel improve its overall competitiveness in the industry," Huang said.

    A large ferroalloy company in Zunyi, Southwest China's Guizhou Province, is also expected to join the industrial group. Negotiations are under way.

    With Sinosteel's industrial chain and capital, the firms are expected to manufacture high value-added products to increase their market shares.

    Sinosteel, as a whole, does not have a plan to list on the stock market. "However, we have a plan for our subsidiaries to enter the capital market," he said.

    Comprehensive subsidiaries, such as the Sinosteel Investment Company and Sinosteel Scie-tech Development Company, will apply for listing on the stock market followed by indU.S.trial production subsidiaries involving mining, refractory materials, carbon, ferroalloy and machinery equipment.

    (Source: chinadaily.com.cn)