It is reported that the merger of Shandong Iron and Steel Group into Baowu Iron and Steel Group has entered a substantive stage, and the official announcement may be made public after the holiday.
The steel output of Shandong Iron and Steel Group in 2020 will exceed 30 million tons. After being merged into Shandong Iron and Steel, Baowu Group’s annual output may reach about 150 million tons.
Professionals believe that based on the principle of “one company, one industry”, in the future, similar steel businesses will be integrated into a listed or unlisted company through an equity management model. The aim is to cultivate leading listed companies in different business sectors. After the merger, Baowu’s layout in the Shandong market will be more complete.
The merger and reorganization of Baowu continue.
As the speed accelerates, the world’s largest steel company will become more and more consolidated and its territory will also grow larger.
Baowu Group is combined by Baosteel and WISCO.
The biggest steel mill annual output may reach about 150 million tons, including carbon steel, stainless steel, alloy.