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November 1, 2016

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New execs named for Baowu Steel

NEW managers have been appointed for China Baowu Iron & Steel Group following a merger between Baoshan Iron & Steel Group and Wuhan Iron & Steel Group, an announcement said yesterday.

As a result of the merger, Baowu Steel becomes the world’s second-largest steelmaker.

Baowu Steel boasts an annual capacity of nearly 80 million tons, only behind Luxembourg-based ArcelorMittal.

Ma Guoqiang, previously chairman of Wuhan Iron & Steel, is now chairman and Party secretary of Baowu.

Chen Derong, previously general manager of Baoshan Iron & Steel, now holds the same position at the new company.

The appointment of executives was announced at the management conference of the newly established Baowu steelmaker yesterday.


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