Wuhan Iron Buys Kunming Stake
Wuhan Iron & Steel (Group) Corp. will buy a 48.41% stake in the steelmaking unit of Kunming Iron & Steel (Group) Co., a person at the unit said, further consolidating the Wuhan firm’s position as one of China’s largest steel producers. Beijing has been pushing the consolidation of China’s steel sector to eliminate inefficient operators and develop internationally competitive champions.
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