Hebei Province-based Chinese steelmaker Jingye Group has officially acquired Shandong Province-based Chinese steelmaker Rizhao Steel Yingkou Medium Steel Plate Co., Ltd. Accordingly, Jingye Group now has six medium steel plate production lines, with an annual production output of 15.0 million mt, becoming the world’s largest medium steel plate manufacturer.
Jingye Group has seven production lines globally, while its operating revenue reached RMB 340.7 billion ($48.6 billion) in 2023.
Rizhao Steel Yingkou Medium Steel has annual production outputs of 6.0 million mt of medium steel plate and 2.0 million mt of wire rod. For 11 consecutive years, it has ranked first in China in terms of export volumes of medium steel plate.
The acquisition of Yingkou Medium Steel Plate will further enhance the advantages of Jingye Group, promote its transformation to high-end quality steel and improve the core competitiveness of the enterprise.
