Baosteel, Baowu, and Kobelco Form Joint Venture for Automotive Aluminium Sheets

Baoshan Iron & Steel (Baosteel), Baowu Aluminum, and Japan's Kobelco have received approval from the European Commission to establish a joint venture focusing on the production of automotive aluminium sheets. The transaction, reviewed under the EU Merger Regulation, raised no competition concerns within the European Economic Area, as confirmed by the Commission’s simplified merger review procedure.

Kobelco will hold a 50% stake in the new venture, while Baosteel and Baowu Aluminum will share the remaining half. The joint company, provisionally named Kobelco Baosteel Automotive Aluminum Rolled Products, will produce aluminium sheets for China's domestic automobile industry. It will operate from two production plants located in Tianjin and Henan province, with a registered capital of 900 million Chinese yuan (approximately $127 million).