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Baosteel to Merge with Rivals in China

ZUMA Press Inc | | Read More
Baosteel to Merge with Rivals in China

Feb 19, 2009 - Beijing, China - Baosteel Group Corp., China's biggest steel producer, will take over two rivals as part of the nations plan to create bigger steelmakers to gain bargaining power for iron ore, according to the China Iron and Steel Association. Baosteel will take over Ningbo Iron and Steel Group and Baotou Iron and Steel Group, Chi Jingdong, the associations secretary-general, told an industry group in a closed meeting. PICTURED: A Chinese woman walks past an advertisement of Baosteel in Beijing, 7 November 2007

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