History of Benxi Iron & Steel (Hesteel)
In 2018, the Benxi Steel Group was the 21st largest steelmaker in the world, producing ~16 million tonnes (mt) of steel.
The timeline below covers the history of the firm.
- 1905: The Japanese open a coal mine at Benxi.
- 1910: Mine becomes a Sino-Japanese joint venture.
- 1931: Falls under Japanese control after occupation of Manchuria.
- 1948: Business returns to Chinese control.
- 1953: Coal mine spun off and sold as Benxi Mining Bureau.
- 1955: Gov invests in Liaoning iron and steelmaking.
- 1995: Creation of Benxi Iron and Steel (Group) Mining Co Ltd.
- 1997: Formation of Benxi Steel Plates Co Ltd.
- 2005: Prematurely announces merger with Anshan I&S.
- 2008: Mulls commencement of stainless steel production.
- 2010: Benxi Steel completes acquisition of Beitai Steel.
- 2011: Pursues expansion plans in stainless steelmaking.
- 2017: BF fire shuts one third of Bengang iron capacity.
- 2019: Confirms abandonment of Anshan merger plan.
- 2020: Commissions high-grade steel slab caster supplied by SMS.
- 1910: This JV was named as the Benxi Lake Commercial Coal Mining Company Limited.
- 1955: Much of this investment, based on open-hearth furnace steelmaking, was made with technical support from the USSR.
- 1995: The Benxi Iron and Steel (Group) Mining Co operates several iron ore mines, including the Nanfen Open-Pit Mine, the Waitoushan iron mine, and iron ore mining at Jiajiapu.
- 1997: Beitai Iron & Steel Group Co, Ltd was incorporated as a limited liability company in Benxi, Liaoning Province, China, in 1997.
- 1997: Plate business is also known as the Bengang Steel Plates Co Ltd.
- 2005: The merger of Benxi and Anshan Steel did not in the end take place. The newly-formed entity was to have been called the Anben Iron & Steel Group, and would have been the third largest steelmaker in China after Hebei Iron and Steel Group and Baosteel Group.
- 2010: The Benxi Steel Group [Bengang Group] was formed as a holding company for the Benxi Iron and Steel (Group) Co Ltd and for the Beitai Iron and Steel (Group) Co Ltd.
- 2020: New single-strand slab caster to be installed at Benxi in north-east China is designed for annual production of ~1.6 million tonnes of slabs of 230-250 millimeter thickness and 1000-1900 millimeters width. Commissioning is scheduled for the end of 2020.
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