1. Text: | Print|

      Baosteel set to buy stake in industrial gas company

      2014-08-20 10:43 China Daily Web Editor: Qin Dexing
      1
      The booth of Baosteel Group at a metallurgy exhibition held in Shanghai. [Provided to China Daily]

      The booth of Baosteel Group at a metallurgy exhibition held in Shanghai. [Provided to China Daily]

      Overcapacity in steel sector forces firm to chart new growth strategy

      Shanghai Baosteel Gases Ltd and global private equity firm Warburg Pincus have inked an agreement to buy the industrial gas assets of Henan Jinkai Chemical Investment Holding Group for 3 billion yuan ($488 million), the two companies said on Tuesday.

      Baosteel Gases, wholly owned by Baosteel Group, is one of the businesses that the steel conglomerate is betting big as it seeks ways to offset the overcapacity issues in the industry.

      "As China's most competitive steel conglomerate, Baosteel Group has achieved impressive development in growing its diversified business platforms including Baosteel Metal. Warburg Pincus is committed to the long-term prospects and potential of the industrial gas in China," said David Li, managing director of Warburg Pincus.

      According to a report on China's industrial gas industry by www.qianzhan.com, an industrial consultancy, as the demand for energy, environmental protection and healthcare increases in China, as well as the rapid development of coal gas and coal chemicals, China's industrial gas industry will see fast growth in the next five years.

      The report said that sales of industrial gases in China will reach 120 billion yuan by 2016.

      According to the consultancy, global industrial gas demand will grow by 5 percent every year in the next five years. The market volume is expected to reach 530 billion cubic meters in 2015.

      Li said the firm is making efforts to participate in the ongoing reform of Chinese State-owned enterprises and the partnership with Baosteel is one such move.

      The two sides also indicated that they would jointly explore and develop projects in the industrial gas field.

      Jia Yanlin, chairman of Baosteel Metal, a subsidiary of Baosteel Group, said Baosteel Gases is looking to be a key industrial gas provider and will take steps to improve gas supply, air separation and integration, applied technologies and pipeline construction.

      Established in 2008, Baosteel Gases has operations in industrial gases, synthetic gases, packaged gases and new energy, and through its more than 10 subsidiaries covers China's eastern, northwest and southern regions.

      With more than $39 billion in assets under management, Warburg Pincus has invested over $50 billion in 720 companies globally.

      Since entering the Chinese market in 1994, Warburg Pincus has invested more than $4 billion in Chinese companies in the industrial, energy, consumer and retail, healthcare and real estate industries.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 日韩伦理片电影在线免费观看| 99热免费在线观看| 日韩特黄特色大片免费视频| 亚洲福利一区二区精品秒拍| 在线免费观看你懂的| 亚洲综合在线视频| 91av在线免费视频| 亚洲大香人伊一本线| 免费观看的毛片大全 | 在线亚洲精品自拍| 一级毛片免费毛片毛片| 亚洲日韩涩涩成人午夜私人影院| 免费大片av手机看片| 国产午夜亚洲精品国产成人小说| 国产黄片不卡免费| 国产国拍亚洲精品mv在线观看| 野花香高清视频在线观看免费| 亚洲美女aⅴ久久久91| 91情侣在线精品国产免费| 亚洲熟女www一区二区三区| 国产老女人精品免费视频| 无遮挡呻吟娇喘视频免费播放| 亚洲中文字幕无码一区| 日韩精品在线免费观看| 亚洲精品第一国产综合野| 国产成人无码区免费A∨视频网站 国产成人涩涩涩视频在线观看免费 | 久久国产精品萌白酱免费| 亚洲的天堂av无码| 免费黄色一级毛片| 好湿好大好紧好爽免费视频| 久久精品亚洲精品国产色婷 | 无码国产精品一区二区免费模式| 亚洲精品电影天堂网| 青青草国产免费久久久下载| 国产日韩在线视频免费播放| 亚洲欧洲在线播放| 免费很黄很色裸乳在线观看| 国产精成人品日日拍夜夜免费| 亚洲色偷偷综合亚洲AV伊人蜜桃| 国产亚洲欧洲Aⅴ综合一区| 亚洲精品视频免费在线观看|