September 08, 2008

Baosteel plans to expand capacity to 80 million tonnes by 2012

It is reported that Baosteel is looking to reach 80 million tonnes per year capacity by 2012 and raise its sales revenue up above USD 50 billion and profit of over USD 5 billion. It also aims to vault into the world's top three most competitive steelmaker and top 200 of Fortune 500 by then.

As China's biggest steelmaker, Baosteel plans to realize its capacity expansion by setting up new mills in combination with merger & acquisition.

Baosteel has increased its steel output by twofold over last decade, and lifted sales income by over 600%. It has become one of the only two steel mills that have got obtained credit rating of "A-" across the world and awarded as "The World's Most Respected Company by Fortune for three straight years.

(Sourced from MySteel.net)