Type State-owned enterprise Products Steel Founded 1958 | Industry Steel manufacturing Headquarters Ma'anshan, China | |
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Area served People's Republic of China Key people Chairman: Mr. Gu Jianguo
Party secretary: Mr. Gu Zhanggen
President: Mr. Zhu Changqiu Website Maanshan Iron & Steel Company Limited Stock price 600808 (SHA) CN¥ 3.49 0.00 (0.00%)16 Mar, 3:00 PM GMT+8 - Disclaimer Parent organization Magang (Group) Holding Company Subsidiaries Magang Group Finance Company Limited | ||
Maanshan Iron & Steel Company Limited (SSE: 600808; SEHK: 0323) is China's ninth largest steel producer after Baosteel Group and Wuhan Iron and Steel Corporation. 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). Maanshan was developed "into a medium-scale integrated iron and steel complex", starting in 1958 under the Second (five-year) Plan. 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.
Business
The Group's principal activities are the manufacture and sale of iron 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 materials 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.
The company name has been used by scammers to attempt to con U.S. based attorneys into accepting counterfeit cashier's checks. A typical scammer e-mail is:
Dear Attorney
My company would like to sue our client for breach of contract and is looking for a lawyer who has experience in the field of law that relates to our case. Contact us for more details if you handle such cases.
Regards, Mr Hu Shunliang Director of Human Resources MaanShan Iron & Steel Co.Ltd
This is, of course, a scam.