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

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

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. 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 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 ...

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 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 rods, slabs, and hot-rolled coils. 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 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