Jiangsu Shagang Group Company Limited, Jiangsu Shagang Group, Shagang Group or Shasteel is located in

Zhangjiagang Zhangjiagang (), formerly Shazhou County (), is a county-level city under the administration of Suzhou, Jiangsu province, China and one of the many ports along the Yangtze river. With 1,246,762 inhabitants as of the 2010 census, the city is now ...

Jiangsu Jiangsu is a coastal Provinces of the People's Republic of China, province in East China. It is one of the leading provinces in finance, education, technology, and tourism, with its capital in Nanjing. Jiangsu is the List of Chinese administra ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

, an Economic Development Zone of the

Yangtze River The Yangtze or Yangzi ( or ) is the longest river in Eurasia and the third-longest in the world. It rises at Jari Hill in the Tanggula Mountains of the Tibetan Plateau and flows including Dam Qu River the longest source of the Yangtze, i ...

. According to a 2008 survey conducted by the All-China Federation of Industry and Commerce (ACFIC), the company was the largest

privately owned company A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equi ...

in China at the time. It involves the

production Production may refer to: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a stat ...

and

sales Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. A period during which goods are sold for a reduced price may also be referred ...

of "Shagang"

brand name A brand is a name, term, design, symbol or any other feature that distinguishes one seller's goods or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and ...

steel products.

History

Formerly "Jiangsu Shagang Group Company Limited", it was established in 1975 with self-financing of only 450,000

Renminbi The renminbi ( ; currency symbol, symbol: Yen and yuan sign, ¥; ISO 4217, ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the China, People's Republic of China. The renminbi is issued by the Peop ...

. At the end of 2007, it employs over 26,700 staff, covers an area of 10 km², and has total assets over RMB100 billion Yuan. The company drew the world's attention in 2001 when it acquired a steel mill (the Dortmund-Hörde plant) from German industrial giant

ThyssenKrupp ThyssenKrupp AG (, ; stylized as thyssenkrupp) is a German industrial engineering and steel production multinational conglomerate. It resulted from the 1999 merger of Thyssen AG and Krupp and has its operational headquarters in Duisburg and E ...

for 30 million euros and shipped its equipment to China where it was reassembled and resumed operation.Kynge: China shakes the world (2006) Shagang Group acquired the controlling stake in Huaigang and renamed it into Huaigang Special Steel in 2006. The stake floated on the

Shenzhen Stock Exchange The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

Shagang Company Jiangsu Shagang Group Huaigang Special Steel Co., Ltd. (known as Huaigang or Huaisteel) is a Chinese steel manufacturer based in Huai'an, Jiangsu Province. It was a subsidiary of privately held company Shagang Group via its publicly traded subsi ...

in 2010. In 2015 Shagang Group sold most of the stake in Shagang Company. In 2016, the Group headed a consortium that acquired London-based international data center Global Switch Holdings for £2.4 billion (HK$23.03 billion). The consortium bought a 49 percent stake in the company in order to expand Global Switch Holding's strategic infrastructure. Due to ongoing overcapacity within the steel sector, Jiangsu Shagang Group purchased two internet data firms for $3.8 billion, as part of an attempt to expand into new industries for diversification. The June 2017 deal targets Jiangsu Qingfeng Investment Management Co. Ltd. and Beijing Daily Tech Co. Ltd.

Business

The company processes some 18 million tons of iron annually in order to roll out about 23 million tons of steel each year, making it one of China's top-five steel producers. Jiangsu Shagang's

product line In marketing jargon, product lining refers to the offering of several related product (business), products for individual sale. Unlike product bundling, where several products are combined into one group, which is then offered for sale as a uni ...

includes

rebar Rebar (short for reinforcement bar or reinforcing bar), known when massed as reinforcing steel or steel reinforcement, is a tension device added to concrete to form ''reinforced concrete'' and reinforced masonry structures to strengthen and aid ...

wire rod In steel industry terminology, long steel products or long products refers to steel products including wire, rod, rail, and bars as well as types of steel structural sections and girders. The term long products may include hot rolled bar, cold rol ...

slab Slab or SLAB may refer to: Physical materials * Concrete slab, a flat concrete plate used in construction * Stone slab, a flat stone used in construction * Slab (casting), a length of metal * Slab (geology), that portion of a tectonic plate that ...

s, and

hot-rolled coil In metalworking, rolling is a metal forming process in which metal stock is passed through one or more pairs of rolls to reduce the thickness, to make the thickness uniform, and/or to impart a desired mechanical property. The concept is simil ...

s. In addition to iron and steel, Jiangsu Shagang produces

stainless steel Stainless steel, also known as inox, corrosion-resistant steel (CRES), or rustless steel, is an iron-based alloy that contains chromium, making it resistant to rust and corrosion. Stainless steel's resistance to corrosion comes from its chromi ...

and zinc-plated steel sheets. Since 2006, the company has acquired four smaller, rival steel companies, and it now ranks as China's largest

private Private or privates may refer to: Music * "In Private", by Dusty Springfield from the 1990 album ''Reputation'' * Private (band), a Denmark-based band * "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorded ...

steel producer.

External links

Jiangsu Shagang Group Company Limited

References

{{Steel companies of the People's Republic of China Manufacturing companies based in Suzhou Zhangjiagang Manufacturing companies established in 1975 Steel companies of China Privately held companies of China Chinese companies established in 1975 1975 establishments in China 1975 in Suzhou