Tangsteel Group
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| State-owned enterprise | |
| Industry | Steel manufacturing |
| Founded | 1943 |
| Headquarters | Tangshan, Hebei, People's Republic of China |
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Area served
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People's Republic of China |
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Key people
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Chairman and party secretary: Mr. Wang Yifang |
| Parent | Hesteel Group |
| Website | Tangshan Iron and Steel Group Company Limited |
Tangshan Iron and Steel Group Company Limited, or Tangsteel, founded in 1943 and headquartered in Tangshan, Hebei, is one of the largest steel manufacturing state-owned enterprise in China. Its subsidiary and listed company, Tangshan Iron and Steel Company Limited (: 000709) was established in 1994 and it was listed on the in 1997.
In 2005 it formed a joint venture Jingtang United Iron and Steel with Shougang Group. Tangsteel Group owned 49%.
In 2006, Tangsteel merged with Xuanhua Iron & Steel Group and Chengde Iron and Steel Group to form "New Tangsteel Iron and Steel Group". In 2008, Tangsteel merged with Hansteel Group to form "Hebei Iron and Steel Group", which is the largest steel maker in China and the fifth largest in the world.
In 2010 the Jingtang United Iron & Steel was sold back to Shougang Group.
In 2013, Tangsteel acquired a 10 percent stake in Duferco International Trade Holding, which is the largest steel trader in the world. Through the acquisition, the company aimed to expand its overseas market. The deal included a steel products structural payment agreement of $1.2 billion in order to facilitate the selling of Tangsahn's products abroad. Prior to the acqusition, Tangsteel received a $270 million as part of a prepayment loan from six international banks.
In November 2014, it was reported that Tangsteel increased its stake in Duferco to 51 percent in a deal that was speculated to be worth $400 million.
Due to the central government's policy to reduce steel production to eradicate overcapacities in the steel sector, Tangsteel has been undergoing an industrial transition by moving away from steel as its core business and expanding into other sectors, including manufacturing, logistics, real estate, education and services.
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