International Steel Mills
June 28, 2016
Baosteel and Wuhan Contemplating Merger
Written by Sandy Williams
Baosteel and Wuhan Iron and Steel Group (Wisco) are contemplating a merger that would unseat Hebei Iron and Steel Group as China’s largest domestic producer and rival European steelmaker ArcelorMittal.
A merger of China’s second largest steelmaker Baosteel with fifth ranked Wisco would create a combined output of approximately 70 million tonnes. The merger would place the new company as largest in China, ahead of Hebei Iron and Steel’s 47.5 million tonne capacity. On a global basis the new company would take second place behind ArcelorMittal which produces 97.14 million tonnes annually.
