Metal Products News
- Baosteel buys steel mill from parent
Date: 27-Sep-2007 Sources: (Shenzhen Daily)
BAOSHAN Iron and Steel Co. (Baosteel), the listed arm of China's largest steel mill, said yesterday it has acquired a steel mill from its parent company for 601 million yuan (US$80.05 million).
Baosteel bought a 92.5 percent stake in Baotong Steel, which has an annual steel capacity of 1 million tons, it said in a statement. The acquisition of Baotong would boost Baosteel's seamless steel business, the statement said.
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