An Feng Steel
Encyclopedia
An Feng Steel is a steel maker
of Taiwan
. Its manufactory is located in Kaohsiung
. The company was established in 1986 by Chu An-hsiung (朱安雄), and managed under the An Feng Steel Group (安鋒集團). It was the second largest steel companiy of Taiwan, but broke out a financial crisis
in 1998. According to the records that announced by banks of Taiwan, An Feng Steel is already left behind much more than 1.17 billion New Taiwan Dollar
s in bad debt
.
Steelmaking
Steelmaking is the second step in producing steel from iron ore. In this stage, impurities such as sulfur, phosphorus, and excess carbon are removed from the raw iron, and alloying elements such as manganese, nickel, chromium and vanadium are added to produce the exact steel required.-Older...
of Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
. Its manufactory is located in Kaohsiung
Kaohsiung
Kaohsiung is a city located in southwestern Taiwan, facing the Taiwan Strait on the west. Kaohsiung, officially named Kaohsiung City, is divided into thirty-eight districts. The city is one of five special municipalities of the Republic of China...
. The company was established in 1986 by Chu An-hsiung (朱安雄), and managed under the An Feng Steel Group (安鋒集團). It was the second largest steel companiy of Taiwan, but broke out a financial crisis
Financial crisis
The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these...
in 1998. According to the records that announced by banks of Taiwan, An Feng Steel is already left behind much more than 1.17 billion New Taiwan Dollar
New Taiwan dollar
The New Taiwan dollar , or simply Taiwan dollar, is the official currency of the Taiwan Area of the Republic of China since 1949, when it replaced the Old Taiwan dollar...
s in bad debt
Bad debt
A bad debt is an amount that is written off by the business as a loss to the business and classified as an expense because the debt owed to the business is unable to be collected, and all reasonable efforts have been exhausted to collect the amount owed...
.