History of Shanghai Baosteel

Shanghai Baosteel is the second largest steelmaker in the world. Producing ~31 million tonnes (mt) of steel in 2010, the company has plans for ~66 mt steel output by 2015.

The timeline below covers the history of the firm.

1977: Shanghai Baoshan Iron & Steel founded.
1985: Commissioning of BF #1.
1991: Commissioning of BF #2.
1993: Change of name to Baoshan Iron & Steel (Group) Corporation.
1994: Commissioning of BF #3.
1998: Merger with Shanghai Metallurgical Holding & Shanghai Meishan
1998: Creation of the Shanghai Baosteel Group Corporation.
2000: Listing on Shanghai Stock Exchange.
2003: Acquisition of the Lubao Steel Pipe Corp & Baogang Yichang.
2005: Announcement of plan for state-of-the-art works in Guangdong.
2004: Jv with Arcelor - automotive sheet products.
2007: Hangang & Baosteel sign agreement to set up HanBao Steel.
2009: Joint plan with Hangzhou I&S for takeover of Ningbo I&S .
2009: Start up of cold-rolling mill at Meishan Steel.
2011: Jv discussions with Vale for $6 bn works in Espirito Santo.
2011: Talk of Baosteel interest in a stake in Malaysia's Lion Group.
2011: Strategic target of 66 mt / year steelmaking capacity by 2015.

Notes

Start-up: Main production facility was located in the Baoshan District near the port of Shanghai - hence the name of the works.
1977: From its founding, Baosteel received much technological support from foreign firms, especially from Nippon Steel in Japan.
2005: Guangdong province project is a 20 mt / year plant costing $12 billion at Zhanjiang planned for start-up in 2012.
2009: This initiative with Hangzhou Iron and Steel was very much in line with Government policy for industry consolidation and the development in China of steelmakers with annual stelmaking capacity of 50 mt or more.
2009: CRM start-up at Meishan represented a technology breakthrough for Chinese steelmakers, who were previously dependent on foreign equipment suppliers (especially from Germany) for rolling mill plant and equipment.

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