Wuhan Iron & Steel

By: EconomyWatch   Date: 17 July 2010

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Wuhan Iron & Steel (Group) Corporation or WISCO is a Chinese company engaged in iron and steel making. Product list includes hot rolled coils, tinned sheets and bridge steel. Wuhan Iron & Steel was ranked #979 on 2008 Forbes Global 2000 list.
Wuhan Iron & Steel was People's Republic of China's first major iron and steel complex. Total production per year comes to around ten million tons of steel and iron. Wuhan Iron & Steel is listed on Shanghai (SSE: 600005) Stock Exchange.

Brief history
Wuhan Iron & Steel started production from September 13, 1958. It was first steel complex established in mainland China. Wuhan Iron & Steel merged with two Chinese companies- Liuzhou Iron and Steel Company, and Echeng Iron & Steel Company to expand its annual steel production to 20 million tons. It ranks third in China and sixteenth in world in terms of steel product generation.

Main factory complex of this iron and steel firm is located on south bank of Changjiang river and covers an area of about 21.17 square kilometers. Wuhan Iron & Steel (Group) Corporation presently has 20 fully owned affiliated companies, 4 branch companies, 7 share-holding companies and 2 factories.

Products and services
Principal steel products of Wuhan Iron & Steel are hot rolled section steel, medium plates, galvanized sheets, cold rolled oriented and non-oriented silicon sheets, high speed rolled wires, hot rolled coils/sheets, hot rolled heavy-duty rails, cold rolled coils/sheets, color coated sheets and tinned sheets. Specialized products include automobile sheets, pipeline plates, container steel, high performance construction steel, wire for tyre cords, bridge steel, pressure vessel steel and cold rolled silicon sheets.

Wuhan Iron & Steel also sell process by-products like refractory material, ferro alloy, powder metallurgical products, granulated slag, oxygen and rare gases, coke, copper-sulfur-cobalt concentrated ores, mechanical and electrical equipment and chemical products.

Financials
Total revenues of Wuhan Iron & Steel was about RMB 54,144.2 million ending December 31, 2007. Operating income was nearly RMB 9,614.4 million during same period. Net income was around RMB 6,518.7 million.

Awards and recognition
Wuhan Iron & Steel was given “Vincent Gaeremynck Award” for quality wire rod by Bekaert in 2007. It has won CISDI commendation prize for engineering of main plant building and local auxiliaries of 1700mm HSM.
 

Current financial crisis
Wuhan Iron & Steel was not significantly affected by financial crisis of 2008.


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