Wuhan Iron and Steel
 |
|
| WISCO | |
|
Formerly called
|
Wuhan Iron and Steel Corporation |
| subsidiary of State-owned enterprise | |
| Industry | Iron and steel |
| Founded | 1955 |
| Headquarters | Wuhan, Hubei, China |
|
Area served
|
China |
|
Key people
|
Liu Xiang (Chairman and Party Committee Secretary) |
| Revenue |
 CN¥77.341 billion (2016) |
 (CN¥1.758 billion) (2016) |
|
|
(CN¥1.076 billion) (2016) |
|
| Total assets |
CN¥176.567 billion (2016) |
| Total equity |
CN¥27.070 billion (2016) |
| Owner | Baowu Steel Group (100%) |
| Parent | Baowu Steel Group |
| Subsidiaries |
|
| Website | wisco.com.cn |
|
Footnotes / references in consolidated financial statement |
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| Wuhan Iron and Steel (Group) Corporation | |||||||
| Simplified Chinese | 武汉钢铁(集团)公司 | ||||||
|---|---|---|---|---|---|---|---|
| Traditional Chinese | 武漢鋼鐵(集團)公司 | ||||||
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Wuhan Iron and Steel (Group) Corporation (WISCO), is a Chinese state-owned enterprise. It started to operate in 1958 in Qingshan, Wuhan, Hubei, China.
It was administrated by State-owned Assets Supervision and Administration Commission of the State Council (SASAC), but in 2016 it was merged with fellow SASAC supervised steel maker Baosteel Group.
According to the World Steel Association (Chinese companies data was provided by China Iron and Steel Association), the corporation was ranked the 11th in 2015 the world ranking by production volume. However, after a heavy net loss in 2015, a plan to cut the production capacity in Qingshan plant, Wuhan, in Echeng plant, Ezhou as well as in Xiangyang plant for a total of 4.42 million metric tonns, was announced on 7 July 2016.
The steel plant in Qingshan, was one of the 156 important construction projects of the First Five-year plan of China.
In 1997, a subsidiary, Wuhan Iron and Steel Co., Ltd. was incorporated to listed Qingshan steel plant in , while Wuhan Iron and Steel Group was transformed into a holding company, which acquired steel plants in Ezhou, Hubei Province, and in Liuzhou, Guangxi Province (sold back to SASAC of Guangxi Province in 2015) and build a new plant in Fang-cheng-gang, Guangxi Province.
In September 2012 Wuhan Iron and Steel Corporation agreed to acquire the automotive components manufacturer Tailored Blanks from ThyssenKrupp for an undisclosed price. At the time of the agreement Tailored Blanks had annual sales of around 700 million euros and a global market share of about 40 percent in automotive laser-welded blanks.
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