The Hebei Metallurgical Industry Association, based in the Chinese province of Hebei, has stated that seven private sector iron and steel companies in the province have merged to form Hebei Baoxin Steel Group. It is reported that the annual sales of the group are expected to total RMB 20.7 billion per year.
The companies which have merged to form Hebei Baoxin Steel Group include Baoxin Steel, Hexin Steel, Pengxin Steel, Rongxi Steel, Xinfang Casting and Hongtai Steel.