Baoshan taking over parent’s heavy plate mill

Dec 12, 2007 | 09:11 AM | Hongmei Li

Baoshan Iron & Steel Co. Ltd., the Shanghai-listed arm of Baosteel Group Corp., plans to take over the 1.6-million-tonne-a-year medium- and heavy-plate plant recently commissioned by its parent group in Shanghai's Luojing district.

Baoshan Iron & Steel will buy the integrated mill, the first in China with VAI Siemens Corex technology, from Baosteel Group subsidiary Shanghai Pudong Iron & Steel Co. Ltd. for 13.03 billion yuan ($1.77 billion), it said. The Corex furnace can produce hot metal from non-coking coal....

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