History of Jianlong
In 2018, Jianlong in Tangshan (Hebei Province) was the 9th largest steelmaker in the world and produced ~28 million tonnes (mt) of steel.
The timeline below covers the history of the firm.
- 2000: Jianlong Steel established from Zunhua Steel.
- 2002: Acquires near-bankrupt Mingcheng Steel.
- 2003: Huaxia Jianlong established.
- 2003: Acquires near-bankrupt Heilongjiang Steel.
- 2006: Acquires Yangfan shipbuilder.
- 2006: Sets up Ningbo-Jianlong joint venture.
- 2008: Subsidiary company Hong Xiang Shipping Co Ltd founded December 2008.
- 2009: Tianjin EV Energies Co and Xiangwei Transmission Co established.
- 2009: Planned takeover of Tonghua by Jianlong Group is abandoned.
- 2018: Jianlong becomes controlling shareholder (60%) in ESSB.
- In 1998, the predecessor of Jianlong Steel known as Zunhua Steel was on the verge of bankruptcy. Steel salesman Zhang Zhixiang borrowed funds in order to lease the assets of Zunhua Steel for 5 years. He then purchased the company and changed its name to Jianlong Steel in the year 2000.
- 2003: Huaxia was established to develop in ore mining and dressing, mineral resource prospecting, mine design, mine investment, mineral products processing, sales, etc in iron ore, copper, lead, zinc, molybdenum and coal in the Provinces of Neimeng, Qinghai, Yunnan, Hubei, Jilin, Liaoning, Heibei, Xinjiang.
- 2003: Jianlong Steel acquired Heilongjiang Steel in mid-2003 to create the Heilongjiang Jianlong Iron and Steel Co Ltd, with with a head office in Shuangyashan. The firm produces iron and steel and also manufactures ferroalloys.
- In 2006, Jianlong Iron & Steel Co Ltd signed a deal with the Zhoushan municipal government to purchase State-owned shares in the Yangfan Group and thus enter into the shipbuilding sector in Zhejiang Province. The plan at the time was for Jianlong to establish support facilities for marine diesel and electromechanical equipment and also to gradually increase Yangfan's shipbuilding capacity. At the time of the share purchase, Yangfan had three large shipbuilding production lines with a capacity of 350,000 DWT per year.
- 2006: The Ningbo-Jianlong joint venture was a 4mt / year blast furnace based plate mill investment in Zhejiang Province.
- 2008: Hong Xiang Shipping Co is a Hong Kong based subsidiary, with a branch in Beijing.
- 2009: Tianjin EV Energies Co Ltd is a producer of lithium batteries for the automotive sector. The Xiangwei Transmission Co Ltd manufactures wind power transmission gear boxes and gears.
- In 2009, Tonghua Steel was in severe cash flow difficulties, and takeover by Jianlong was proposed as the solution to this problem. Fearful for their jobs, workers from state-owned Tonghua however murdered takeover manager Chen Guojun in July 2009 when restructuring plans at Tonghua were first announced. Local government officials then cancelled the proposed takeover deal. Tonghua Steel was instead acquired by China's Shougang Steel in mid-2010.
- 2018: The Hiap Teck Venture Bhd disposed of a 20% stake in Eastern Steel Sdn Bhd (ESSB) to China's Jianlong for 225.6 million yuan in April 2018. Prior to this disposal, Jianlong had a 40% ownership stake in ESSB.
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