Wuhan Iron and Steel Company
 | |
| |
| Traded as | SSE: 60005 |
| Industry | Iron and steel |
| Founded |
|
| Headquarters | Wuhan, Hubei, China |
Area served | China |
| Owner | Baosteel (100%, proposed) |
| Parent | Baosteel |
| Wuhan Iron and Steel Company Limited | |||||||
| Simplified Chinese | 武汉钢铁股份有限公司 | ||||||
|---|---|---|---|---|---|---|---|
| Traditional Chinese | 武漢鋼鐵股份有限公司 | ||||||
| |||||||
Wuhan Iron and Steel Company Limited is a subsidiary of Wuhan Iron and Steel Corporation. The main business was the steel plant in Qingshan District, Wuhan, while the parent company had transformed from steel making company to holding company and M&A vehicle. Wuhan Iron and Steel Company Limited was a component of SSE 50, which was removed in 2011.[1]
On 21–22 September 2016, a merger between Baosteel Group and Wuhan Iron and Steel Corporation was announced. Wuhan Iron and Steel Company Limited would be takeover by the listed counterpart of Baosteel Group in an all-share deal,[2] while all the rights of Wuhan Iron and Steel Corporation would be transferred to Baosteel Group, as both corporation were supervised by the same entity State-owned Assets Supervision and Administration Commission of the State Council.
On 7 July 2016, after a heavy net loss in 2015, Wuhan Iron and Steel Corporation also announced the group would reduce their production capacity by 4.42 million metric tons, which Wuhan Iron and Steel Company would be cut 1.40 million metric tons, or about 31.7% of the group total.[3]
References
- ↑ "Adjustment list for SSE 180, SSE 50, SSE 380 and other SSE index". Shanghai Stock Exchange. 13 June 2011. Retrieved 3 October 2016.
- ↑ "China's Top Steel Mills Step Closer to Creating Arcelor Rival". Bloomberg. 21 September 2016. Retrieved 3 October 2016.
- ↑ "武汉钢铁(集团)公司关于化解过剩产能实施脱困发展的公告" (PDF). Wuhan Iron and Steel Corporation. 7 July 2016. Retrieved 3 October 2016.
 Steel companies of China | |
|---|---|
| |
| |
 Category |