History of China Baowu Iron & Steel Group
In 2016, the China Baowu Group was the 2nd largest steelmaker in the world, producing ~64 million tonnes (mt) of steel.
The timeline below covers the history of the firm.
- 2016: Baowu formed from acquisition by Baosteel of Wuhan Iron & Steel.
- 2016: Business renamed as China Baowu Iron & Steel Group Co.
- 2017: Baowu considers major stainless steel investment in Shadong.
- 2016: The Q3 2016 acquisition of Wuhan I&S (Wisco) by Baoshan Steel was considered by many industry observers to be the first step in the creation of a steel producer second only in output to ArcelorMittal.
- 2016: Baoshan Iron & Steel Co was renamed as the China Baowu Iron & Steel Group Co in November 2016.
- In mid-2017, Baowu Steel signed a memorandum of co-operation with Shandong Xinhai Technology Co relating to investment in a stainless steel plant in Shandong province. This new facility will reportedly produce up to 3.8 mt/year of stainless steel and 1.8 mt/year of nickel pig iron.
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