The sixth- and seventh-largest steel producers in China, Jinan Iron and Steel Group Co. and Laiwu Steel Group Corp, and Shandong Metallurgical Industry Corp merged to become the state-owned Shandong Iron and Steel Group Co. A Shandong provincial asset management committee counts the three individuals as members.
With an authorized capital of 10 billion yuan ($1.4 billion), the government controls Shandong Iron and Steel.
The group’s yearly production is 31.6 million tons under the province’s steel industry plan. In 2007, Jinan and Laiwu generated 12.12 million tons of crude steel.
A new Shandong-based steel business will play an important role in China’s steel industry’s worldwide competitiveness, according to Luo Bingsheng, the deputy chairman of the China Iron and Steel Association.
Steel products were the primary focus of Jinan Iron and Steel Company Ltd. Jinan Iron and Steel Company Ltd. As a supplier of steel goods, Jinan Iron & Steel has offered hot-rolled steel-ribbed bars, thick steel-plated hull structure plates, broad and heavyweight steel plates, deformed-steel-bar profile billets and cold- and hot-rolled steel-products as well as coal products. Chemicals and coal gas were sold, and iron ore and other ores. Jinan Iron & Steel also provided steel smelting technological consultancy services.
As a result, Laiwu Steel was primarily engaged in the production and sale of iron, steel billets, steel ingots, steel products, coke and slag, and the provision of electricity and heat. A total of 6.29 million metric tons of steel products and 4.69 million metric tons of pig iron were produced by Laiwu Steel Corp in 2008. Eastern China was Laiwu Steel Corp’s primary market for local and international sales. Laiwu Steel Corp listed a total of eight direct companies and three associates as of the end of 2008.
Rizhao Iron and Steel, according to the China Securities Journal, has agreed to sell SISG a 67 percent ownership in the company. During Shandong Iron and Steel Group Co., Ltd’s reorganization, it signed an agreement with Rizhao Steel Holding Group Co., Ltd. on asset restructuring and collaboration on September 6, 2009. More Business News: https://techbullion.com/an-introduction-to-du-shuanghua-chairman-of-rizhao-steel/