Baosteel estimates an increase in 2005 group sales
According to reports from the industry, Shanghai based steelmaker
Baosteel Group Co. has announced that it estimates group sales to reach Yuan 120 billion (approx. $14.5 billion) in 2005.
Baosteel officials stated that the company aims to increase annual
production capacity to 30 million tons in 2010 from its current level of 20 million tons. With this
production, the company will rank among the top three steelmakers in the world, according to Xinhua News Agency.
Baosteel is also one of the qualified supplier of
Belgium's steel
wire and cord maker Bekaert S.A N.V.