Baosteel Group acquires the second largest steel company in Xinjiang with nearly 2.2 billion yuan

SMM11 March 23: Xinjiang Tianshan Iron and Steel Co., Ltd., the controlling subsidiary of Baosteel Group Xinjiang Bayi Iron and Steel Co., Ltd., intends to acquire 100% equity of Xinxing cast Pipe Xinjiang Co., Ltd., the equity transfer price is 2.181 billion yuan.

Xinxing cast pipe Xinjiang Co., Ltd. business scope: construction steel bar, industrial oxygen, industrial nitrogen, pure argon production, sales, mineral products processing, sales; coke, tar, centrifugal ductile iron pipe, emerging composite pipe, building materials sales, site and housing rental, mining support equipment production, processing, sales.