Maanshan Iron and Steel Company
Encyclopedia
Maanshan Iron & Steel Company Limited is China's third largest steel
producer after Baosteel
and Wuhan Iron & Steel. Set along the banks of the Yangtze River
in Ma'anshan
, Masteel is known as the "flower of Jiangnan
(South of Yangtze River
in Chinese language
)."
Maanshan Iron & Steel, better known as Masteel, turns out 8 million tons of steel annually, 80% of which are of international grade (the remainder is used in-state). Its H-beams, plates, wheels, and wires are exported to nearly 50 countries worldwide. The company also makes wheels for locomotives. Formerly a subsidiary of Magang (Group) Holding Company
, Masteel was spun off in 1993 and today is publicly traded on the Shanghai
and Hong Kong
stock exchanges. It has 44,104 employees as of December 2007.
On November 26, 2006, the Company acquired a 71% of equity interest in Burwill Coil Centre (Yangzhou) Company Limited.
and steel
products. The production process of the Group mainly comprises cooking, sintering
, iron smelting
, steel smelting and rolling.
The principal steel products come in four major categories: steel sections, wire rods, medium or thick steel plates and train wheels and tyres.
It imports machinery and raw material
s and exports steel products. It is also involved in the planning and designing of automation
system, metallurgical, construction and environmental protection projects. Other activities include purchase, installation and repair of computers and communications systems; production, sale and transportation of slag
products and provision of related consultation
and technology services.
Steel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...
producer after Baosteel
Baosteel
Shanghai Baosteel Group Corporation , commonly referred to as Baosteel is a state-owned iron and steel company headquartered in Shanghai, China....
and Wuhan Iron & Steel. Set along the banks of the Yangtze River
Yangtze River
The Yangtze, Yangzi or Cháng Jiāng is the longest river in Asia, and the third-longest in the world. It flows for from the glaciers on the Tibetan Plateau in Qinghai eastward across southwest, central and eastern China before emptying into the East China Sea at Shanghai. It is also one of the...
in Ma'anshan
Ma'anshan
Ma'anshan , also written as Maanshan, is a prefecture-level city in the east of Anhui province in Eastern China. An industrial city stretching across the Yangtze River, Ma'anshan borders Hefei to the west, Wuhu to the southwest, and Nanjing to the east...
, Masteel is known as the "flower of Jiangnan
Jiangnan
Jiangnan or Jiang Nan is a geographic area in China referring to lands immediately to the south of the lower reaches of the Yangtze River, including the southern part of the Yangtze Delta...
(South of Yangtze River
Yangtze River
The Yangtze, Yangzi or Cháng Jiāng is the longest river in Asia, and the third-longest in the world. It flows for from the glaciers on the Tibetan Plateau in Qinghai eastward across southwest, central and eastern China before emptying into the East China Sea at Shanghai. It is also one of the...
in Chinese language
Chinese language
The Chinese language is a language or language family consisting of varieties which are mutually intelligible to varying degrees. Originally the indigenous languages spoken by the Han Chinese in China, it forms one of the branches of Sino-Tibetan family of languages...
)."
Maanshan Iron & Steel, better known as Masteel, turns out 8 million tons of steel annually, 80% of which are of international grade (the remainder is used in-state). Its H-beams, plates, wheels, and wires are exported to nearly 50 countries worldwide. The company also makes wheels for locomotives. Formerly a subsidiary of Magang (Group) Holding Company
Magang (Group) Holding Company
Magang Holding Company Limited, or Masteel, is one of the largest iron and steel enterprises in Mainland China headquartered in Maanshan, Anhui Province. It gained the fame of "a flower of Jiangnan" .Masteel was founded in 1958 from Maanshan Iron Mining Plant...
, Masteel was spun off in 1993 and today is publicly traded on the Shanghai
Shanghai Stock Exchange
The Shanghai Stock Exchange , abbreviated as 上证所/上證所 or 上交所, is a stock exchange that is based in the city of Shanghai, China. It is one of the two stock exchanges operating independently in the People's Republic of China, the other is the Shenzhen Stock Exchange...
and Hong Kong
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
stock exchanges. It has 44,104 employees as of December 2007.
On November 26, 2006, the Company acquired a 71% of equity interest in Burwill Coil Centre (Yangzhou) Company Limited.
Business
The Group's principal activities are the manufacture and sale of ironIron
Iron is a chemical element with the symbol Fe and atomic number 26. It is a metal in the first transition series. It is the most common element forming the planet Earth as a whole, forming much of Earth's outer and inner core. It is the fourth most common element in the Earth's crust...
and steel
Steel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...
products. The production process of the Group mainly comprises cooking, sintering
Sintering
Sintering is a method used to create objects from powders. It is based on atomic diffusion. Diffusion occurs in any material above absolute zero, but it occurs much faster at higher temperatures. In most sintering processes, the powdered material is held in a mold and then heated to a temperature...
, iron smelting
Smelting
Smelting is a form of extractive metallurgy; its main use is to produce a metal from its ore. This includes iron extraction from iron ore, and copper extraction and other base metals from their ores...
, steel smelting and rolling.
The principal steel products come in four major categories: steel sections, wire rods, medium or thick steel plates and train wheels and tyres.
It imports machinery and raw material
Raw material
A raw material or feedstock is the basic material from which a product is manufactured or made, frequently used with an extended meaning. For example, the term is used to denote material that came from nature and is in an unprocessed or minimally processed state. Latex, iron ore, logs, and crude...
s and exports steel products. It is also involved in the planning and designing of automation
Automation
Automation is the use of control systems and information technologies to reduce the need for human work in the production of goods and services. In the scope of industrialization, automation is a step beyond mechanization...
system, metallurgical, construction and environmental protection projects. Other activities include purchase, installation and repair of computers and communications systems; production, sale and transportation of slag
Slag
Slag is a partially vitreous by-product of smelting ore to separate the metal fraction from the unwanted fraction. It can usually be considered to be a mixture of metal oxides and silicon dioxide. However, slags can contain metal sulfides and metal atoms in the elemental form...
products and provision of related consultation
Consultation
The Consultation served as the provisional government of Mexican Texas from November 1835 through March 1836 during the Texas Revolution. Tensions rose in Texas during early 1835 as throughout Mexico federalists began to oppose the increasingly centralist policies of the government. In the...
and technology services.