China's 7 steel mills merge to form Hebei Baoxin Steel Group

BEIJING (Scrap Monster): China’s seven private-owned steel firms in Heibei province merged to form Hebei Baoxin Steel Group to enhance its competiveness in steel sector.

After the merger, its annual sales revenue is predicted to reach RMB20.7 billion. It will also bring 15,000 job opportunities.

It’s known that the steel firms merged into Hebei Baoxin Steel Group include Baoxin Steel, Hexin Steel, Pengxin Steel, Rongxi Steel, Xinfang Casting and Hongtai Steel, Yieh Corp reported.