Baosteel to integrate its auto parts business

Chinese steel giant Baosteel Group plans to integrate its auto parts business, with a detailed scheme expected to be announced in April this year, the Chinese newspaper First Financial Daily has reported.
 
Accordingly, Baosteel Group's wholly-owned subsidiary Baosteel International Economic and Trade Co., Ltd is planning to take over the auto parts business of Baosteel Metals Co., Ltd, and has already initiated an evaluation of the relevant assets. Baosteel occupies a share of over 50 percent in the Chinese domestic auto sheet market.