UPDATE 1-Wuhan Steel 2004 net to surge over five-fold

Newswire

(Adds details on competitors, background) SHANGHAI, Jan 28 (Reuters) - China's third-largest steel maker, Wuhan Iron and Steel Co. Ltd. , raised its 2004 earnings estimate on Friday, saying net profit more than quintupled after it bought assets from its state parent. Listed Wuhan, known also as the Wuhan Steel Processing Co., forecast in October that 2004 net profit would quadruple after it acquired three smelters, two production lines and a raft of similar assets from its parent. ...

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