Ansteel Group

Not to be confused with Masteel Group.

Anshan Iron and Steel Group Corporation

Trade name	Ansteel Group
Company type	State-owned enterprise
Industry	Steel manufacturing
Founded	1916;109 years ago (1916)
Headquarters	Anshan, Liaoning , China
Area served	China
Key people	Yao Lin (Chairman and Party Committee Secretary)
Products	Steel
Revenue	CN¥73.354  billion  (2015)
Operating income	(CN¥4.096 billion) (2015)
Net income	(CN¥3.853 billion) (2015)
Total assets	CN¥195.640 billion (2015)
Total equity	CN¥47.073 billion (2015)
Owner	Chinese Government
Subsidiaries	Angang Steel  (67.29%)
Chinese name
Simplified Chinese	鞍山钢铁集团公司
Traditional Chinese	鞍山鋼鐵集團公司
Transcriptions Standard Mandarin Hanyu Pinyin Ānshān gāngtiě jítuán gōngsī
Website	www.ansteel.cn
Footnotes /references in a consolidated basis [1]

Anshan Iron and Steel Group Corporation (Ansteel Group in short; less popularly Angang Group) is a Chinese state-owned steel maker. The corporation was under the supervision of State-owned Assets Supervision and Administration Commission of the State Council. It is headquartered in Anshan, Liaoning. According to the World Steel Association in 2015, the corporation was the 7th largest manufacturer of steel in the world by production volume. ^[2]

History

The group was formerly Anshan Iron & Steel Works and Showa Steel Works, which was established in 1916 under Japanese rule in Northeast China. Anshan Iron and Steel Company (Angang) was established from the two places in 1948. ^[3]

The steel refinery was modified under the aid of Soviet Union as 1 of 156 important construction projects  [ zh ] in the First Five-year plan of China.

In 1958, prompted by the political movement of the Great Leap Forward, workers at Angang laid out rules to challenge the existing operations of their workplace. ^[4] These ideas were reflected in the March 11, 1960, "Report of the Anshan City Committee Regarding the Beginning of the Movement for Technological Reform and Technological Revolution." ^[5] On March 22, 1960, the Central Committee of the Chinese Communist Party approved the document and distributed it to various governmental bodies. ^[5] Mao Zedong designated the document as the Angang Constitution ^[5] and stated that its principles should guide the operation of state enterprises. ^[4]

In the early 1960s, Angang supported the construction of Vietnam's first modern steel enterprise, Thai Nguyen Iron and Steel Company. ^{[6] : 248} It sent experts to the steelworks and trained hundreds of Vietnamese workers. When American attacks later damaged the facilities, Angang worked on the restoration, including through manufacturing essential equipment. ^{[6] : 248}

In 1997, a subsidiary Angang Steel is incorporated and listed some of the assets of the group in the stock exchanges.

In 2005, a plan to merge Anshan Iron and Steel and Benxi Iron and Steel was announced, ^[7] but never materialized.

In 2010 Panzhihua Iron and Steel was merged into Anshan Iron & Steel Group Corporation.

In August 2021, Ansteel and Ben Gang Group Corporation, began the process of merging and restructuring that will create the world's third-largest steelmaker. According to the deal, Ben Gang will become a subsidiary of Ansteel. ^[8]

References

1. "2015 Annual Report". Ansteel Group (in Chinese). Shanghai Clearing House. 29 April 2016. Retrieved 1 October 2016.
2. "World Steel Association - Top steel-producing companies". Archived from the original on 2016-07-19. Retrieved 2016-07-26.
3. Brief introduction of Anshan Iron and Steel Group Archived September 19, 2008, at the Wayback Machine
4. Ching, Pao-Yu (2021). Revolution and Counterrevolution: China's Continuing Class Struggle since Liberation (2nd ed.). Paris: Foreign Languages Press. p. 72. ISBN   978-2-491182-89-2. OCLC   1325647379.
5. Cai, Xiang; 蔡翔 (2016). Revolution and its Narratives : China's Socialist Literary and Cultural Imaginaries (1949-1966). Translated by Rebecca E. Karl, Xueping Zhong, 钟雪萍. Durham: Duke University Press. p. 340. ISBN   978-0-8223-7461-9. OCLC   932368688.
6. Hirata, Koji (2024). Making Mao's Steelworks: Industrial Manchuria and the Transnational Origins of Chinese Socialism. Cambridge Studies in the History of the People's Republic of China series. New York, NY: Cambridge University Press. ISBN   978-1-009-38227-4.
7. Anshan and Benxi Iron and Steel Groups Merge
8. "Two Chinese steelmakers declare merger, become world's 3rd largest," The Star, August 19, 2021

External links

• Official website