Baosteel-Wisco merger removes 10mn t capacity

摘要

The merger of Chinese state-controlled steel producers Baosteel and Wisco is making nearly 10mn t/yr of capacity of the combined group redundant, the vice-chairman of state-run assets regulator Sasac, Zhang Xiwu said. Zhang did not say how soon this excess capacity will be removed, but said that removal of excess capacity is the key reason for the merger of state-controlled companies in the steel, coal and heavy equipment sectors.