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

Jiangsu Jiangsu (; ; pinyin: Jiāngsū, alternatively romanized as Kiangsu or Chiangsu) is an eastern coastal province of the People's Republic of China. It is one of the leading provinces in finance, education, technology, and tourism, with its c ...

, China, an Economic Development Zone of the

Yangtze River The Yangtze or Yangzi ( or ; ) is the longest river in Asia, the third-longest in the world, and the longest in the world to flow entirely within one country. It rises at Jari Hill in the Tanggula Mountains (Tibetan Plateau) and flow ...

. 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 shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is ...

in China at the time. It involves the production 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. The seller, or the provider of the goods or services, completes a sale in ...

of "Shagang"

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

steel products.

History

Formerly "Jiangsu Shagang Group Company Limited", it was established in 1975 with self-financing of only 450,000 Renminbi. 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 is the result of the 1999 merger of Thyssen AG and Krupp and has its operational headquarters in Duisburg and ...

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 Exch ...

as Shagang Company 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 Product may refer to: Business * Product (business), an item that serves as a solution to a specific consumer problem. * Product (project management), a deliverable or set of deliverables that contribute to a business solution Mathematics * Prod ...

includes

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

wire rod Overhead power cabling. The conductor consists of seven strands of steel (centre, high tensile strength), surrounded by four outer layers of aluminium (high conductivity). Sample diameter 40 mm A wire is a flexible strand of metal. Wire is c ...

s, slabs, and hot-rolled coils. In addition to iron and steel, Jiangsu Shagang produces stainless steel 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 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