China’s Baosteel Group will decommission 54.54pc stake in Baotou Iron and Steel Group located at Inner Mongolia province, according to a recent announcement by the Baotou’s board. 

 

Baosteel will continue to hold 39.68pc stake in the alliance. Baosteel Group had acquired controlling stake in Baotou in 2007. Baotou and Baosteel came together through this merger to become the largest steelmaker in west China. With the merger, these companies planned to become steelmaker with 15mn mt capacity.

 

Baosteel specialises in home appliance steel, prepainted steel, heavy plate, automotive sheets, electrical sheets; while Baotou specialised in rail steel, seamless pipe and hot dipped galvanized steel before the merger. 

 

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