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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Baoshan Iron & Steel Co., Ltd.    600019   CNE0000015R4

BAOSHAN IRON & STEEL CO., LTD.

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Salzgitter: No negotiations with Thyssenkrupp on steel

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05/20/2020 | 08:42am EDT
FILE PHOTO: Thyssenkrupp's logo is seen outside elevator test tower in Rottweil

Germany's second-largest steelmaker Salzgitter on Wednesday said it was not in talks with larger rival Thyssenkrupp about consolidation, pouring cold water on hopes for the creation of a national metals giant.

Salzgitter said it has been successfully independent for more than two decades, but added that it remained open to ideas about what cooperation with peers could look like, provided it was beneficial for its future.

Thyssenkrupp earlier this week said it was talking to peers about consolidation in the steel industry, fuelling hopes for tie-ups in Germany or Europe. A combination with Salzgitter has long been considered one of the most likely options.

"However, there are no negotiations between the companies," Salzgitter said in a statement.

Sources told Reuters that Thyssenkrupp was holding talks with Sweden's SSAB, China's Baoshan Iron & Steel and India's Tata Steel, with which the German conglomerate wanted to form a joint venture last year.

The fact that Thyssenkrupp might even sell a majority of its steel unit has drawn opposition from workers, including Germany's top labour union IG Metall, who have substantial influence at the group and hold half of the seats on its supervisory board.

"There is no scenario I can imagine that would see IG Metall and the group's labour representation approve the sale of a majority of Thyssenkrupp Steel," Tekin Nasikkol, who heads the works council of Thyssenkrupp Steel Europe, said.

"To be very clear: I fully reject a minority shareholding. It's a red line," he told German daily newspaper Westdeutsche Allgemeine Zeitung.

Nasikkol said workers would prefer a German steel alliance, but only under the leadership of Thyssenkrupp.

(Reporting by Tom Kaeckenhoff, Christoph Steitz and Arno Schuetze; Editing by Michelle Martin and Maria Sheahan)

Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO., LTD. 0.61% 4.92 End-of-day quote.-14.29%
SALZGITTER AG 6.78% 12.895 Delayed Quote.-38.77%
SSAB 2.78% 24.37 Delayed Quote.-27.79%
TATA STEEL LIMITED 6.72% 315.05 End-of-day quote.-33.25%
THYSSENKRUPP AG 6.90% 6.472 Delayed Quote.-49.67%
UNITED PARCEL SERVICE -0.43% 99.28 Delayed Quote.-15.19%
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Financials
Sales 2020 273 B 38 424 M 38 424 M
Net income 2020 9 076 M 1 278 M 1 278 M
Net Debt 2020 52 934 M 7 455 M 7 455 M
P/E ratio 2020 11,7x
Yield 2020 4,45%
Capitalization 110 B 15 375 M 15 432 M
EV / Sales 2019
EV / Sales 2020 0,60x
Nbr of Employees 56 158
Free-Float 28,1%
Chart BAOSHAN IRON & STEEL CO.,
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Baoshan Iron & Steel Co.,  Technical Analysis Chart | 600019 | CNE0000015R4 | MarketScreener
Technical analysis trends BAOSHAN IRON & STEEL CO.,
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 6,12 CNY
Last Close Price 4,92 CNY
Spread / Highest target 70,7%
Spread / Average Target 24,4%
Spread / Lowest Target -0,41%
EPS Revisions
Managers
NameTitle
Angui Hou General Manager & Director
Ji Xin Zou Chairman
Yong Hong Zhu Chairman-Supervisory Board
Li Li Independent Director
Yu Chang Huang Independent Director
Sector and Competitors
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EVRAZ PLC-28.12%5 273
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