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 (; ; pinyin: Jiāngsū, Postal romanization, alternatively romanized as Kiangsu or Chiangsu) is an Eastern China, eastern coastal Provinces of the People's Republic of China, province of the China, People's Republic of China. It is o ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

, an Economic Development Zone of the

Yangtze River The Yangtze or Yangzi ( or ; ) is the longest list of rivers of Asia, river in Asia, the list of rivers by length, third-longest in the world, and the longest in the world to flow entirely within one country. It rises at Jari Hill in th ...

. 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 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 stati ...

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 r ...

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 an ...

steel products.

History

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

Renminbi The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. ...

. 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 corporation, multinational Conglomerate (company), conglomerate. It is the result of the 1999 merger of Thyssen AG and Krupp and h ...

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 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 * Produ ...

includes

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

, wire rods,

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 tha ...

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

stainless steel Stainless steel is an alloy of iron that is resistant to rusting and corrosion. It contains at least 11% chromium and may contain elements such as carbon, other nonmetals and metals to obtain other desired properties. Stainless steel's corros ...

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 recorde ...

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