Brief introduction to Masteel
Magang (Group) Holding Co., Ltd. is an extra large-sized iron and steel complex in China which was founded in 1958. Presently Magang’s steel production capacity amounts to 18 million ton and its total assets amount to more than RMB 90 billion. Magang steel production was 16.68 million ton and its total sale amounted to RMB 92.3 billion in 2011. Among the top 20 steel enterprises in the world, Magang (Group) ranks No. 19 as per SBB (Steel Business Briefing).
Magang (Group) business mainly involves Iron & Steel industry, mineral resources industry and other diversified industry. Its iron & steel business is mainly in Maanshan Iron & Steel Co., Ltd. (Masteel) which is mainly engaged in ferrous metal smelting and rolling processing and product sale and support services. Masteel owns the top production lines in the world for thin strip cold-rolling and thin strip hot-rolling, strip hot-galvanizing, strip color coating, silicon steel, H-beam, high-quality wire & rod, train wheel, etc. A unique product catalog of “plate & strip, section steel, wire & rod and train wheel& tyre” has been formed in Masteel. Magang (Group) mineral resource industy is mainly in iron ore with its business in Magang Mining Corporation which includes Nanshan Mine, Gushan Mine, Taochong Mine, Luohe Mine and Zhangzhuang Mine. Magang’s diversified industry covers finance, environment protection, logistics, trading, engineering, steel structure, equipment manufacturing and erection, technology consulting and labor services, etc.
Looking into the future, Magang will speed up its upgrading in structure and fully increase its competitiveness in market, technical exploration ability and risk resistance ability. Magang will build itself into a modernized enterprise group with international competitiveness.
Message from the chairman
I am sincerely grateful to friends from all walks of life supporting the development of Magang!
With unremitting efforts from generations of Magang people, especially since the “10th Five-year plan”, through successful implementation of two rounds of massive systematic technical renovation and structural adjustment project, Magang has undergone great changes. The main process and equipment have reached advanced first-class level and the capacity has stepped up on the 20 million ton platform. Magang “plate & strip, section steel, wire & rod and train wheel & tyre” have a unique competitive edge. The harmonious development of non-steel industry has laid a solid foundation for further transformation, upgrading and scientific development.
New journey, new mission! Facing the grim situation of more and more severe over-capacity and homogenized product competition domestically, Magang will vigorously promote the spirit of “pioneering, innovation and creation” and unswervingly carry out the three strategic missions of “strengthening main business in iron & steel, developing non-steel industry and perfecting modern enterprise system.” Magang will occupy the market with varieties and quality, win the customers with quality service and promote the growth with transformation and upgrading and will build a humanistic, technological and green Magang with all efforts in making more contribution to shareholders, customers, employees and society.
Sincerely looking forward to joining hands with new and old friends in cooperation and co-creating a better future!
Chairman and Secretary of the Communist Party Committee,
Magang (Group) Holding Company Ltd.
1. 1958 before the founding of company
In February of 1953, Maanshan Iron Mining was established, and was renamed as Maanshan Iron Plant in that year.
On September 16, 1953, hot metal was produced from No. 2 blast furnace.
On March 9, 1958, liquid steel was produced form an electric arc furnace of 1.5 tons.
On April 24, 1958, Mr. Zhu De, vice President inspected Maanshan Iron Plant.
On August 1, 1958, Maanshan Iron & Steel Company was founded.
On September 20, 1958 and on October 29, 1959, Chairman Ma Zedong inspected Masteel.
On October 22, 1989, Mr. Liu Shaoqi, Chairman of the Standing Committee of the National People's Congress inspected Masteel.
On December 19, 1958, the first quality steel product was produced in a small steel-rolling workshop.
In May, 1962, the train wheel & tyre project started its construction.
On July 29, 1964, the first monolithic train wheel with diameter of 840mm was produced in Masteel, which ended the long history of relying on imported train wheel & tyre. This train wheel & tyre project was one of the four great achievements in China industry field at that time, and the other three were Daqing Oil, 100MN hydraulic press and atomic bomb.
In 1964, Masteel promoted the civilized operation activity with the content of three cleanness, four without, no leakage in five aspects, one line, and standardization. Masteel was honored as “a flower of Jiangnan (south part of the Yangtze River)”.
In September, Masteel merged its management with Maanshan municipal government administration into one.
In March, 1973, Maanshan municipal government separated its functions from enterprise management, and Maanshan Iron & Steel Company was back.
On July 1, 1975, 2300mm medium plate rolling mill project was put into production.
On February 7, 1977, the construction work in Washan started. By the end of 1984, the capability of Washan mining reached 5 million tons of iron ore.
In December, 1979, Masteel was chosen as one pilot company by Anhui provincial government for expanding the autonomy of state owned enterprises.
On May 28, 1987, the first high speed wire rod production line in China came into production with the rolling speed of 11m/s.
On June 12, 1991, the Standing Committee of the Political Bureau of the CPC Central Committee, State Council Premier Li Peng inspected Masteel.
On November 20, 1991, the Standing Committee of the Political Bureau of the CPC Central Committee, General Secretary of the CPC Central Committee Jian Zemin inspected Masteel.
On September 20, 1993, Masteel undertook the shareholding reform successfully. Maanshan Iron & Steel Company was divided into Magang Holding Company and Maanshan Iron & Steel Company Limited.
On December 3, 1993 and January 6, 1994, Masteel H shares and A shares were listed in Hong Kong Stock Exchange and Shanghai Stock Exchange respectively. Masteel was regarded as “the first iron and steel share in China”. Masteel was named by “International Finance Forum” from London, UK as the most successful listing company in global emerging stock markets in the year 1993.
On April 26, 1994, No. 1 blast furnace of 2500 cubic meter was built and put into production, which was the milestone of Masteel for its development towards large-scale, automation and modernization.
On July 4, 1998, the first H beam production line in China was put into production.
On September 20, 1998, Magang Holding Company was changed into Magang (Group) Holding Company Limited.
On December 18, 2001, Masteel’s projects led by thin strip hot-rolling line and cold-rolling line for technical innovation and structure adjustment in the Tenth Five-Year-Plan period started construction.
In May, 2002, Masteel won successfully in responding the anti-dumping case taken by the United States against H beam from China, which was the first successful case achieved by a Chinese iron & Steel enterprise for responding the anti-dumping cases against China after China entering into WTO.
On October 16, 2003, No. 2 blast furnace of 2500 cubic meter was built and came into production. Since then, Masteel’s annual production capacity reached to 6 million tons.
On April 28, 2004, thin strip hot and cold rolling project was put into production.
On November 24, 2004, the plan for technical innovation and structure adjustment in the Tenth Five-Year-Plan period got approval from State government.
On May 10, 2005, the projects in Masteel new area with the annual production capacity of 5 million tons for high quality strips started construction.
On August 11, 2005, the Standing Committee of the Political Bureau of the CPC Central Committee, State Council Premier Wen Jiabao inspected Masteel.
On September 1, 2005, the hot-rolled H beam produced by Masteel won the title of “China Top Brand”. Maanshan Iron & Steel Company Limited won the title of “Enterprise for producing products of China Top Brand”.
On February 6, 2006, the Standing Committee of the Political Bureau of the CPC Central Committee, Chairman of the Standing Committee of the National People's Congress Wu Bangguo came to inspect Masteel for the second time.
On May 12, 2006, Hefei Iron & Steel Company was reorganized, and the company returned to making a profit in that year.
On November 29, 2006, the separation transaction convertible bonds of Masteel were listed successfully in Shanghai Stock Exchange. Masteel was the first listing company in China who issued separation transaction convertible bonds in A share market.
On November 30, 2006, the annual production capacity of Masteel surpassed 10 million tons.
On December 4, 2006, Maanshan Iron & Steel Company Limited was awarded State-owned Enterprise Establish “Four Good” Collective Leadership Advanced Institution.
On September 11, 2007, the train wheel produced by Masteel won the title of “China Top Brand”.
On September 20, 2007, the projects in Masteel new area came into production completely.
On November 20, 2008, the revamping projects for train wheel production lines came into production, and the annual production capacity of train wheel reached 1.1 million pieces.
In December, 2008, the annual production capacity of Masteel reached to 18 million tons.
On July 3, 2009, the Standing Committee of the Political Bureau of the CPC Central Committee, Chairman of the Standing Committee of the National People's Congress Wu Bangguo came to inspect Masteel for the third time.
Magang (Group) Holding Company Ltd,.
Maanshan Iron & Steel Company Ltd,.
Address: No. 8, Jiuhuaxi Road, Maanshan City, Anhui Province, P.R. China
Telephone: 0086 (0) 555 2883492
Fax: 0086 (0) 555 2884350
Masteel Switchboard (directory enquiry) : 0086 (0) 555 2882114
Masteel Office: 0086 (0) 555 2883492
Secretariat to the Board：0086 (0) 555 2888158
Masteel Sales Company: 0086 (0) 555 2888888, 2888951
Masteel International Trade & Economic Corp.: 0086 (0) 555 2882092, 2875605
Masteel Wheel &Tyre Branch；0086 (0) 555 2888756， 2888109， 2883271
Masteel Coal & Coking Company: 0086 (0) 555 2883748, 2887723
Strip and Plate
Masteel can produce hot-rolled strip, cold-rolled strip, galvanized strip, color-coated strip, ship plate, container use strip, electric steel, pipe steel, etc., which are widely used in building, home appliance, automobile and petroleum industries, etc. The deep drawing strip is used in automobile industry, while X80 pipe steel is used in China West-East Gas Transmission Project.
Masteel can produce H-beam, angle and channel with wide range of specifications. The H-beam products from Masteel were used in some key projects like Chinese Century Altar, Macao’s Return Memorial Hail, Bohai Petroleum Platform, Three Gorges Dam, National Grand Theatre, Guangzhou Yajisha Bridge, infrastructure for the 2008 Beijing Olympics and new building of CCTV, etc.
Masteel is one of the producers in the world who can mass-produce cold-heading wire rod with on-line softening process. The fasten pieces made of cold-heading wire rod are widely used in the fields like aerospace, aviation, automobile, ship-building, building, chemical industry and mechanical manufacturing industry, etc. The fasten pieces produced by Masteel were used in the products of Volkswagen Company from Germany and those of GE Company from U.S.A. They were also used in China Shenzhou V and Shenzhou VI spacecrafts as well as the nuclear submarine of new generation.
Masteel owns the largest train wheel & tyre production line in the world. Masteel produced the largest train wheel in diameter and the maximum load train wheel. Masteel is the production base for the research and development for the train wheels to be used for CRH (China Railway High-speed) trains. Masteel’s market share for the train wheel for wagon car is over 90% in China. The products have been exported to more than 20 countries and regions.
Ma Steel Special Steel Company, located in Maanshan City Anhui Province, adjacent to Nanjing City Jiangsu Province, convenient for transportation, was established in October 2011, with a total investment of 2.5 billion RMB. Ma Steel Special Steel Company has a modern electric arc furnace steel-making, rolling processing line, designed annual output of 1.1 million tons of steel including 800 thousand tons of continuous casting round bloom and 200 thousand tons of heavy ingot, and annual output of 750 thousand tons of hot rolled products.
Products, mainly including: railway wheel and tyre steel, bearing steel, spring steel, gear steel, tool and die steel, alloy tube billet, high quality ring steel, high grade cold heading steel, non-quenched and tempered steel, anchor chain steel, roller steel, steel for heavy castings and forgings, alloy structural steel and other series，are widely used in railway, energy, autos, machinery, construction, petroleum, chemical industry, metallurgy, aviation,marine and other fields.
Maanshan Iron & Steel Company Limited (the “Company”) was set up on 1 September 1993 and was regarded by the State as one of the nine pilot joint-stock limited enterprises which formed the first batch of overseas listed companies. The Company’s H shares were issued overseas during 20-26 October 1993 and were listed on The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) on 3 November 1993. The Company issued RMB common shares in the domestic market during 6 November through 25 December 1993. These shares were listed on the Shanghai Stock Exchange (the “SSE”) in three batches on 6 January, 4 April and 6 September in the following year.
On 13 November 2006, the Company issued bonds with warrants (“Bonds with Warrants”) on the SSE. On 29 November 2006, the Company’s bonds and warrants were listed on the SSE.
The Company is one of the largest iron and steel producers and marketers in the PRC, and is principally engaged in the manufacture and sale of iron and steel products. The manufacturing process primarily involves iron-making, steel-making and steel rolling projects. The Company’s principal product is steel products which come in four major categories: steel plates, section steel, wire rods and train wheels.
Major products include thin plates and medium plates. Thin plates can be further categorised into hot and cold-rolled thin plates, galvanized plates and coil-coating plates. Hot-rolled thin plates are mostly used in the construction, automobile, bridge-building, machinery businesses and petroleum transportation, while cold-rolled thin plates are used in high-grade light industries, home electrical appliances, and medium and high-grade production of automobile parts. Galvanised plates are positioned to be used in plates of automobile, home electrical appliances, high-grade construction plates, and plates used in businesses like packaging and utensil manufacturing. Coil-coating plates can be used in both interior and exterior of construction projects, home electrical appliances and steel windows. Standards adopted by thin plate products of the Company include GB, the national standard of the PRC, Japan’s JIS standard, Germany’s DIN standard and the US ASTM standard. Medium plates are widely used in boilers, pressurised utensils, ship-building, container manufacturing, and so forth. Plates used for building ship structures have been endorsed by certificates issued by six countries including China, the United Kingdom, Germany, the United States, France and Norway.
Major products include H-shaped steel and common medium-shaped steel. H-shaped steel is mostly used in construction, steel structures, machinery manufacturing and the construction of petroleum drilling platforms and railways. It has been awarded the “Golden Cup Prize of Quality Metal Products” and has been hailed as a “Reliable and Reputable Construction Material Brand Name Product” by the China Construction Materials Enterprise Management Association and selected in the Catalogue of China’s Top Brands by the China Promotion Commission for Top Brand Strategy. The Company owns the core technology and patent of the shock and fire resistant H-shaped steel for construction. The H-shaped steel products have been certified under the Japanese JIS standards. The H-shaped steel used in manufacturing oceanographic platforms has been endorsed by certificates of both China and Germany. Common medium-shaped steel is mostly used in construction structures, machinery manufacturing and steel structures used in shipbuilding. It has also been awarded the “Golden Cup Prize of Quality Metal Products”.
Major products include high-speed wire rod materials and hot-rolled reinforcing steel used in armoured concrete. High-speed wire rod products are mostly used in the production of robust materials, pre-stressing strand steel wires and spring steel wires, and are occasionally used in construction materials. The Company owns the core technology and patent of the high-efficiency, low-cost cold-forged steel with wire-softening treatment. Hot-rolled reinforcing steel used in armoured concrete is mainly used in construction. It has been acclaimed “The First Lot of Quality Products Exempted from Inspection” by the General Administration of Quality Supervision, Inspection and Quarantine of the PRC, and has been hailed as a “Reliable and Reputable Construction Material Brand Name Product” by the China Construction Materials Enterprise Management Association. It has also been endorsed by the registered BS standard in Hong Kong. Hot-rolled reinforcing steel and hot-rolled wire rods have been endorsed by the quality control system certification and product certification of the UK Certification Authority for Reinforcing Steels (CARES).
Major products include train wheels and wheel rims, which are widely used in railway transport, port machinery, petrochemical industries, aerospace industry, and so forth. Train wheel products are bestowed the honour of “Famous Brand of China”. The Company owns the core technology and patent of train wheels used for high-speed railroads. The production quality assurance system for train wheels is accredited with authoritative certifications including the ISO9000:2000 quality system and the AAR issued by the North American Railway Committee.
Copyright 2008-2018 Magang (Group) Holding Company Ltd,.
Maanshan Iron & Steel Company Ltd,.
Address: No. 8, Jiuhuaxi Road, Maanshan City, Anhui Province, P.R. China