Wuhan Iron and Steel Corporation

Source: Wikipedia, the free encyclopedia.
"Wuhan Iron and Steel" redirects here. For ex-subsidiary, see
Wuhan Iron and Steel Co., Ltd.
"WISCO" redirects here. For the U.S. state sometimes colloquially abbreviated to "Wisco", see Wisconsin. For the university sometimes colloquially abbreviated to "Wisco", see University of Wisconsin–Madison.
Wuhan Iron and Steel Corporation
Baowu Steel Group
Subsidiaries
  • Echeng Iron and Steel
  • Guangxi Iron and Steel
Websitewww.wuganggroup.cn
Footnotes / references
in consolidated financial statement[1]
Wuhan Iron and Steel (Group) Corporation
Hanyu Pinyin
Wǔhàn gāngtiě (jítuán) gōngsī

Wuhan Iron and Steel Corporation (WISCO) is a Chinese state-owned enterprise. It started to operate in 1958 in

Qingshan, Wuhan, Hubei, China
.

It was administered by

Baosteel Group
.

According to the

Echeng plant, Ezhou as well as in Xiangyang plant for a total of 4.42 million metric tonnes, was announced on 7 July 2016.[3]

History

Museum of Wuhan Iron and Steel (Group) Corp.

The steel plant in

Qingshan, was one of the 156 important construction projects [zh] of the First Five-year plan of China
.

In 1997, a subsidiary,

Wuhan Iron and Steel Co., Ltd. was incorporated to listed Qingshan steel plant in Shanghai Stock Exchange, while Wuhan Iron and Steel Group was transformed into a holding company, which acquired steel plants in Ezhou, Hubei Province, and in Liuzhou, Guangxi Province (sold back to SASAC of Guangxi Province in 2015) and build a new plant in Fang-cheng-gang
, Guangxi Province.

In September 2012 Wuhan Iron and Steel Corporation agreed to acquire the automotive components manufacturer Tailored Blanks from ThyssenKrupp for an undisclosed price.[4][5] At the time of the agreement Tailored Blanks had annual sales of around 700 million euros and a global market share of about 40 percent in automotive laser-welded blanks.[4]

Its executive chairman, Deng Qilin, was investigated for corruption in 2015. New chairman, Ma Guoqiang, who replaced Deng Qilin in June 2015, had announced a plan to cut 50,000 staff from their current 80,000.[6]

On 21–22 September 2016 the merger plan between Wuhan Iron and Steel Corporation and

General Manager
of WISCO. Liu was also appointed as the Deputy General Manager of China Baowu Steel Group, on top of his position as the highest-ranking officials of WISCO.

References

  1. ^ "2016 Annual Report". WISCO (in Chinese). Shanghai Clearing House. 28 April 2017. Retrieved 30 April 2017.
  2. ^ "World Steel Association - Top steel-producing companies". Archived from the original on 2016-07-19. Retrieved 2016-07-26.
  3. ^ "武汉钢铁(集团)公司关于化解过剩产能实施脱困发展的公告" (PDF). Wuhan Iron and Steel Corporation. 7 July 2016. Retrieved 3 October 2016.
  4. ^ a b "ThyssenKrupp to sell Tailored Blanks to WISCO". Reuters. 28 September 2012. Retrieved 29 September 2012.
  5. ^ "Sale of ThyssenKrupp Tailored Blanks to Wuhan Iron and Steel Corporation (WISCO) completed". ThyssenKrupp. 31 July 2013. Retrieved 3 October 2016.
  6. ^ "武钢减员五万人背后:他为何两度「逃离」?" (in Chinese). ifeng.com. 2016-03-14. Retrieved 2016-10-03.
  7. ^ "China's Top Steel Mills Step Closer to Creating Arcelor Rival". Bloomberg. 21 September 2016. Retrieved 3 October 2016.
  8. ^ "China completes merger that creates nation's biggest steel company". Reuters. December 2016. Retrieved 20 February 2017.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Wuhan_Iron_and_Steel_Corporation&oldid=1172177970"