Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 4 of Short Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 4

Description of the concentration

This notification concerns the following undertakings:

a. Baoshan Iron & Steel Co., Ltd. (“Baosteel”), China, controlled by China Baowu Steel Group Co., Ltd. ("Baowu Parent"), China,

b. Baowu Aluminum Technology Co., Ltd. (“Baowu Aluminum”), China, controlled by Baowu Parent, China,

c. Kobelco (China) Holding Co., Ltd. (“Kobelco”), China, controlled by Kobe Steel, Ltd. (“Kobe Parent”), Japan, and

d. Kobelco Baosteel Automotive Aluminum Rolled Products Co., Ltd. (the “JV”, name only tentative), China, a company yet to be formed in China.

Baosteel, Baowu Aluminum and Kobelco will acquire, within the meaning of Article 3(1), point (b) and Article 3(4) of the Merger Regulation, joint control over the JV. The concentration is accomplished by way of purchase of shares. Baowu Aluminum will contribute to the JV a pre-determined asset package of its automotive aluminum sheet plant in Sanmenxia City, Henan Province of China. Kobelco will contribute to the JV all its equity interest in Kobe Aluminum Automotive Products (China) Co., Ltd. (“Kobelco Tianjin”) and Kobelco Tianjin will become a subsidiary of the JV.

The business activities of the undertakings concerned are:

a. for Baosteel: steel manufacturing, processing and distribution, information technology, carbon industry and finance;

b. for Baowu Aluminum: production, sales, research, and development of high-performance high-alloyed aluminum sheet and foil products and other aluminum and aluminum alloy deep processing products;

c. for Kobelco: investment in China, provision of services to Kobe Group's local entities in China and purchasing, sales, import, and export operations; and

d. for the JV: Once established, the JV will be active in China in the manufacture and sale of automotive aluminum flat-rolled sheet, which is a high-precision aluminum product used for the manufacture of sheet parts (including outer, inner, and reinforcing sheets) for automotive car bodies.

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