Hangyang interested in buying stake in Baosteel Gases


Hangzhou Hangyang Co. Ltd (Hangyang) is reportedly keen to expand the scope and market share of its business in China, with the pursuit of a majority stake in Baosteel Gases.

Established in 2010 and with a registered capital that now stands at RMB 1.18bn ($174m), Baosteel Gases is a wholly state-owned-enterprise directly under Baosteel Metal Co. Ltd, a subsidiary of China’s Baowu Steel Group, which was itself formed from the merger of Baoshan Steel (Baosteel) and Wuhan Iron and Steel in December 2016.

Baosteel Gases has business in air gases from cryogenic air separation plants (ASUs), synthetic gases, hydrogen, clean energy gases, and packaged gases. At present, it has more than 1,000 employees and 30 branch companies and subsidiaries.

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