China OKs Baosteel, Wuhan Merger
10/31/2016 - China has given the go-ahead to the merger of two of its largest steelmakers, naming the top executives who will run the combined business, reports the Bloomberg news service.
According to Bloomberg, 52-year-old Ma Guoqiang, chairman of Wuhan Iron & Steel Group Corp., will hold the same title in the new business. Wuhan is China’s sixth-largest steelmaker and will join Baosteel Group Corp. in the merger.
In terms of output, the combined business would be second only to ArcelorMittal.
Bloomberg has more on the story here.
In terms of output, the combined business would be second only to ArcelorMittal.
Bloomberg has more on the story here.
