History of Shanghai Delong Steel Group Co.
History of Delong Steel
Delong Steel produced almost 28 million tonnes of crude steel in 2022, making it the 12th largest steelmaker in the world.
The timeline below covers the history of the firm.
- 1992: Delong Steel Co Ltd was established as Teamshphere in the year 1992.
- 2000: The company changes is name to Delong Steel.
- 2008: Russian steel producer Evraz acquires minority ownership stake.
- 2014: Signs jv agreement for steel production in Thailand.
- 2018: Establishes Indonesian joint venture Dexin Steel Indonesia.
- 2018: Evraz disposes of its 15% Delong Steel ownership stake.
- 2019: Acquires Bohai steel assets in post bankruptcy restructuring.
- 2021: Announces planned increase in Dexin capacity from 3.5 to 6 mt.
- 2021: Delong Steel merges with rod producer Jiujiang Wire in Tangshan.
- 2021: Dexin Steel Indonesia launches slab production.
- 2022: Company is listed in the Fortune Global 500.
- 2022: Announces intent to construct new steel mill in Zimbabwe.
Notes
- 1992: Delong Steel was origninally named 'Teamsphere'. The firm is currently located in Nanshimen, Xindu District, Hebei Province.
- 2014: Thai jv agreement is with Permsin Steel Works Public Company Limited, Asia Metal Public Company Limited and Thai Yuan Metal Public Company Limited. The jv centres on the establishmnet of a 500 kt / year steel manufacturing plant within the Amata City Industrial Estate in Rayong Province for the production of hot rolled narrow strip.
- 2018: This Indonesian joint venture was Delong Steel's first investment made under China's belt and road initiative. Dexin Steel Indonesia is a stainless steel production plant based on the island of Sulawesi. Dexin's joint venture partners are Shanghai Decent Investment Group and Indonesia Morowali Industrial Park.
- 2019: Bohai Steel collapsed in 2016 with more than 200 billion yuan ($28.4 billion) in unpaid debt. Subsequent break-up of Bohai Steel was enforced by the Tianjin Government in 2019, with Bohai steel assets [including those of Tianjin Iron and Steel, Tianjin Metallurgy Group and Tianjin Tiantie Metallurgy] being sold to Delong Steel for a consideration of 20 billion yuan.
- 2021: Jiujiang Wire is also known as the Qian’an Jiujiang Wire Rod Co.
- 2021: The Saudi deal with China's Teda Investment Holding Co was signed by the New Tianjin Steel Group, a Delong Steel subsidiary. The project will centre on a new 10 mt / year EAF steelmaking plant.
- 2022: Zimbabwe steel plant is to have a capacity of 2.5 mt/year, with probable capex of ~$2.5 billion.
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