Shougang Group

Shougang Group
Formerly
 Shougang Corporation
State-owned enterprise
Industry Steel manufacturing, investment
Founded 1919
Founder Longyan Iron Mine Limited
Headquarters Beijing, China
Area served
 China
Key people
 Zhu Jimin (Chairman and Party Committee Secretary)
Owner Government of Beijing (79.40%)
Parent State-owned Assets Supervision and Administration Commission of the Government of Beijing
Subsidiaries Beijing Shougang Co., Ltd.
Chinese name
Simplified Chinese 首钢集团有限公司
former name
Simplified Chinese 首钢总公司
Traditional Chinese 首鋼總公司
Website www.shougang.com.cn

Shougang Group Co., Ltd. formerly Shougang Corporation is a Chinese state-owned steel companies. Based in Beijing, its operations have been moved out of the city prior to the Olympics due to concerns over pollution.[1]

Its subsidiary and listed company, Beijing Shougang Co., Ltd. (SZSE: 000959), was established in 1999 and listed on the Shenzhen Stock Exchange in 2005. It also has 3 other subsidiaries listed on the Stock Exchange of Hong Kong, Shougang Concord International (SEHK: 697), Shougang Concord Century (SEHK: 103), and Shougang Concord Grand (SEHK: 730) .[2]

The word "Shougang" (Chinese: 首钢) came from the previous name of the corporation (Chinese: 首都钢铁公司; pinyin: Shǒudū gāngtiě gōngsī; literally: "Capital Iron and Steel Corporation").

Company history

The predecessor of corporation, the Shijingshan steel plant was founded in 1919 in modern-day Shijingshan District, with accelerated growth since the founding of People's Republic of China. As China reformed and opened itself to the outside world, as one of the core corporations in China, Shougang developed itself as well. Shougang focuses its business mainly on steel industry, the corporation also runs on mining, machinery and equipment development, electronics, building, real estate, and related services, in addition, they also developed business with overseas companies in order to form Shougang as a leading multi-diverse corporation.

Although the corporation is facing more and more challenges as time goes by, the company made several big changes in order to solve the competition problems. It changed its organization chart and improved its products and services and provided itself a sustainable competitive advantage compares to other companies in steel industry.

Shougang Corporation made significant contribution to Chinese economy and steel industry development. It paid accumulate more than 57,600,000,000 yuan for Chinese taxes.

Products and Services

Shougang finished applications for 52 patents and get national authority patents. The company is good developing superior products. Their products are dominated almost one thirds of Chinese market within steeling industry.

Shougang provides other services include technology consulting involved mining, architecture, real estate, city council and environment. In addition, the company designs for engineering projects, supervising and provides relevant equipment.

Shougang has more than fifty years experience in building and construction industry. The company specializes in steel structure installation, industrial equipment inspection, concrete-made products sales services. The company also provides rental for equipment, construction materials development and sales. Shougang is rewarded for fourteen Chinese national awards for high-quality construction projects.

Foreign operations

The company has current operations in the pacific coast of Southern Peru and is known as Shougang Hierro Peru. It operates the Marcona Mine in the Marcona District, an open-pit iron mine acquired in 1992. There have been continuing labor troubles.[3][4]

Sponsorship

The group was a sponsor of a football team and a basketball team.

References

  1. ↑ Beijing steel plant to relocate
  2. ↑ SHOUGANG GROUP TO RESTRUCTURE HK-LISTED SUBSIDIARIES
  3. ↑ "Tensions Over Chinese Mining Venture in Peru" article by Simon Romero in The New York Times August 14, 2010, accessed August 14, 2010
  4. ↑ Info portal at InfoMine.Com
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