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Wuhan Iron And Steel Company Limited
Wuhan Iron and Steel Company Limited known as WISCO (and formerly WGGF, abb. of ), is a subsidiary of listed steel maker Baoshan Iron and Steel Co., Ltd., Baoshan Iron and Steel; Wuhan Iron and Steel Co., Ltd. was a subsidiary of state-owned Wuhan Iron and Steel Corporation until 2016. The main business was the steel plant in Qingshan District, Wuhan, while the parent company had transformed from steel making company to holding company and M&A vehicle. On 21–22 September 2016, a merger between Baosteel Group and Wuhan Iron and Steel Corporation was announced. Wuhan Iron and Steel Company Limited would be takeover by the Baoshan Iron and Steel Co., Ltd., listed counterpart of Baosteel Group in an all-share deal, while all the rights of Wuhan Iron and Steel Corporation would be transferred to Baosteel Group, as both corporations were supervised by the same entity State-owned Assets Supervision and Administration Commission of the State Council. On 7 July 2016, after a heavy net l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wuhan Iron And Steel Corporation
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 administrated by State-owned Assets Supervision and Administration Commission of the State Council (SASAC), but in 2016 it was merged with fellow SASAC supervised steel maker Baosteel Group. According to the World Steel Association (Chinese companies data was provided by China Iron and Steel Association), the corporation was ranked the 11th in 2015 the world ranking by production volume. However, after a heavy net loss in 2015, a plan to cut the production capacity in Qingshan plant, Wuhan, in Echeng plant, Ezhou as well as in Xiangyang plant for a total of 4.42 million metric tonnes, was announced on 7 July 2016. History The steel plant in Qingshan, was one of the 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 Exc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |