Tianjin Pipe (Group) Corporation Limited known as Tianjin Pipe () or its abbreviation TPCO, is the largest stemless steel pipe maker of China as well as one of the largest in the world.

History

The predecessor of Tianjin Pipe was founded on 11 December 1987 (as ); it was one of the project in the Eighth Five-Year Plan of China. The factory was later incorporated as a limited company, under a law that was established in 1993. In 1999 the corporation () fall under control by the

Ministry of Finance of the People's Republic of China The Ministry of Finance of the People's Republic of China () is the cabinet-level executive department of the State Council which administers macroeconomic policies and the annual budget. It also handles fiscal policy, economic regulations a ...

due to

debt-to-equity swap Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue ...

, which the four state-owned asset management companies or bad banks, Huarong, Cinda,

Great Wall The Great Wall of China (, literally "ten thousand Li (unit), ''li'' wall") is a series of fortifications that were built across the historical northern borders of ancient Chinese states and Imperial China as protection against Eurasian noma ...

and Orient Asset Management owned 100% stake. In 2003, 90% stake of TPCO was transferred to Tianjin Pipe Investment Holding (), a company that was supervised by the Economic Commission () of the . In 2004, 57% stake of TPCO was transferred from Tianjin Pipe Investment Holding to

TEDA Holding Teda or TEDA may refer to: *Teda people, Toubou ethnic group that lives mostly in Chad *Teda language, or Tedaga language, spoken by Teda people *Tianjin Economic-Technological Development Area, abbreviated as TEDA, free market zone in Tianjin, Chi ...

(), a company that was supervised by the . In 2006 TPCO became a "company limited by shares" (). In 2007 Bohai Industrial Investment Fund () acquired a minority stake of TPCO from Tianjin Pipe Investment Holding. In 2010 Tianjin Pipe Investment Holding became a subsidiary of Bohai Steel Group (), another Tianjin SASAC supervising entity. In April 2016, due to the dissolution of Bohai Steel Group, the shares of Tianjin Pipe Investment Holding was transferred to Bohai State-owned Assets Administration Co., Ltd (), a wholly owned subsidiary of Tianjin Jinlian Investment Holding (), another state-owned enterprise that was supervised by Tianjin SASAC. TPCO had one of the largest Chinese industrial investment in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

. TPCO America had a share capital of

US$ The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

298,610,935.84, build a new plant located in

Gregory, Texas Gregory is a city in San Patricio County, Texas, United States. The population was 1,907 at the 2010 census. Geography Gregory is located at (27.920604, –97.292480). According to the United States Census Bureau, the city has a total area of ...

. However, it was reported that TPCO signed a tax incentive deal with

Gregory-Portland Independent School District Gregory-Portland Independent School District is a public school district based in Portland, Texas (USA). In addition to Portland, the district also serves the city of Gregory as well as the unincorporated communities of Doyle, Falman-County Acr ...

(GPISD), which supposed requiring the subsidiary to employ local population. However, the company refused to do so, paying fines and request to cancel the deal instead.

Joint Venture

Tianjin Pipe Corporation formed a joint venture () with

Huaigang Special Steel 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 subsidi ...

. TPCO owned 60% stake. Huaigang sold the stake to a third part in 2015. Tianjin Pipe Corporation also formed two joint ventures Tianjin TISCO & TPCO Stainless Steel () and Tianjin TPCO & TISCO Welding Pipe () with

Taigang Stainless Steel Taiyuan Iron and Steel (Group) Co., Ltd. formerly Taiyuan Iron & Steel Corporation (TISCO), also known as Taigang Group is a Chinese steel maker based in Taiyuan, Shanxi Province. The company was the parent of Taigang Stainless Steel Co., Ltd., ...

in a 35–65 ratio (via a subsidiary ()) and 50-50 ratio respectively.

Subsidiaries

* TPCO America (100%) * TPCO Enterprise (90%) * TPCO Gulf PZE (100%) * TPCO Panasia (51%) * PT TPCO Panasia PTE Ltd. (100%) * Tianjin Pipe Corporation (Middle East) Ltd. (51%) * (100%) * (100%) * (100%) * (100%) * (100%) * (100%) * (100%) * (70%) * (100%) * (100%) * (99.05%) * (100%) * (50%) * (60%) * (85%) * (50%) * (100%)

Shareholders

* (84.27%) ** via wholly owned subsidiary

(57.00%) ** via wholly owned subsidiary Tianjin Pipe Investment Holding of

Tianjin Bohai State-owned Assets Administration Tianjin (; ; Mandarin: ), alternately romanized as Tientsin (), is a municipality and a coastal metropolis in Northern China on the shore of the Bohai Sea. It is one of the nine national central cities in Mainland China, with a total popula ...

(27.27%) * a consortium of the

(10%) **

China Cinda Asset Management China Cinda Asset Management Co., Ltd. known as China Cinda or just Cinda is a Chinese merchant bank and asset management company. The corporation was founded as a state-owned enterprise and a bad bank for China Construction Bank in 1999. The ban ...

(6.11%) **

China Orient Asset Management China Orient Asset Management Co., Ltd. is a Chinese state-owned enterprise. The company is an asset management company and a merchant bank originated as a bad bank for the Bank of China. The bank received shares from debt-to-equity swap of no ...

(3.03%) **

China Great Wall Asset Management 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 ...

(0.43%) **

China Huarong Asset Management China Huarong Asset Management Co., Ltd. known as just China Huarong () is a majority state-owned financial asset management company in China, with a focus on distressed debt management. It was one of the four asset management companies that the ...

(0.43%) * Bohai Industrial Investment Fund (5.73%)

References

External links