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General Steel CEO Named Vice President of China Chamber of Metallurgical Industry

04/22/2009 - General Steel Holdings Chairman and CEO Henry Yu will serve as Vice President of the China Chamber of Metallurgical Industry.

General Steel Holdings, Inc. Chairman and CEO Henry Yu has been named Vice President of the China Chamber of Metallurgical Industry.
 
Founded in 2006, the China Chamber of Metallurgical Industry connects non-state-owned metals companies, primarily steelmakers and steel-related companies, with the goal of creating a platform for improving the level of information sharing and cooperation within the industry. The Chamber also works to build a favorable external political environment for members' business development initiatives by voicing their opinions, requirements, and suggestions to the Chinese government.
 

Approximately 80% of China’s private-sector steelmakers have production capacity of over two million tonnes per year.
"Non-state-owned steel companies are an integral part of China's industrial mix,” commented Zhao Xizi, Honorary President of the Chamber, and former Director-General of the State Bureau of Metallurgical Industry. “Henry's twenty years of industry experience and General Steel's leadership in the steel space will be helpful toward streamlining communication and collaboration between the public and private sectors."

 
"It is an honor to be named Vice President of such a respected and influential group of industry professionals," said Yu. "As the government accelerates its efforts to consolidate the industry and put production capacity in the hands of more efficient producers, I'm confident that General Steel and other non-state-owned producers will play a central role. With over twenty years of operating experience, access to the western capital market and a track record of successfully merging, creating joint ventures and acquiring both state-owned and private enterprises, we are well positioned to make a unique contribution to this group."
 
The China Chamber of Metallurgical Industry is currently led by Shen Wenrong, Board Chairman of Jiangsu Shagang Group, serving as the Chamber’s President. Jiangsu Shagang Group is the largest private mill in China and the eighth-largest steelmaker in the world by 2008 output.
 
Headquartered in Beijing, China, General Steel Holdings operates a diverse portfolio of Chinese steel companies. With 6.3 million tonnes aggregate production capacity, its companies serve various industries and produce a variety of steel products including rebar, hot-rolled carbon and silicon sheet, high-speed wire and spiral-weld pipe. General Steel Holdings has steel operations in Shaanxi and Guangdong provinces, Inner Mongolia Autonomous Region and Tianjin municipality.