Ansteel Group

Not to be confused with Masteel Group.
Anshan Iron and Steel Group Corporation
Ansteel Group
Company typeState-owned enterprise
IndustrySteel manufacturing
Founded1916; 108 years ago (1916)
Headquarters
Anshan, Liaoning
,
China
Area served
China
Key people
Yao Lin (Chairman and Party Committee Secretary)
ProductsSteel
RevenueDecrease CN¥73.354 billion (2015)
Decrease (CN¥4.096 billion) (2015)
Decrease (CN¥3.853 billion) (2015)
Total assetsDecrease CN¥195.640 billion (2015)
Total equityDecrease CN¥47.073 billion (2015)
OwnerChinese Government
SubsidiariesAngang Steel (67.29%)
Chinese name
Simplified Chinese鞍山钢铁集团公司
Traditional Chinese鞍山鋼鐵集團公司
Transcriptions
Standard Mandarin
Hanyu PinyinĀnshān gāngtiě jítuán gōngsī
Websitewww.ansteel.cn
Footnotes / references
in a consolidated basis[1]

Anshan Iron and Steel Group Corporation (Ansteel Group in short; less popularly Angang Group) is a Chinese state-owned steel maker. The corporation was under the supervision of State-owned Assets Supervision and Administration Commission of the State Council. It is headquartered in Anshan, Liaoning. According to the World Steel Association in 2015, the corporation was the 7th largest manufacturer of steel in the world by production volume.[2]

History

The group was formerly Anshan Iron & Steel Works and Showa Steel Works, which was established in 1916 under Japanese rule in Northeast China. Anshan Iron and Steel Company was established from the two places in 1948.[3]

The steel refinery was modified under the aid of Soviet Union as 1 of 156 important construction projects [zh] in the First Five-year plan of China.

In 1997, a subsidiary Angang Steel is incorporated and listed some of the assets of the group in the stock exchanges.

In 2005, a plan to merge Anshan Iron and Steel and Benxi Iron and Steel was announced,[4] but never materialized.

In 2010 Panzhihua Iron and Steel was merged into Anshan Iron & Steel Group Corporation.

In August 2021, Ansteel and Ben Gang Group Corporation, began the process of merging and restructuring that will create the world's third-largest steelmaker. According to the deal, Ben Gang will become a subsidiary of Ansteel.[5]

References

  1. ^ "2015 Annual Report". Ansteel Group (in Chinese). Shanghai Clearing House. 29 April 2016. Retrieved 1 October 2016.
  2. ^ "World Steel Association - Top steel-producing companies". Archived from the original on 2016-07-19. Retrieved 2016-07-26.
  3. ^ Brief introduction of Anshan Iron and Steel Group Archived September 19, 2008, at the Wayback Machine
  4. ^ Anshan and Benxi Iron and Steel Groups Merge
  5. ^ "Two Chinese steelmakers declare merger, become world's 3rd largest," The Star, August 19, 2021