Shagang Group
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Jiangsu Shagang Group Corporation Limited, also known as Jiangsu Shagang Group, Shagang Group or Shasteel is a private-owned iron and steel company headquartered in Zhangjiagang City, Jiangsu Province, China, an Economic Development Zone of the Yangtze River. [1]
History
Formerly "Jiangsu Shagang Group Company", it was established in 1975 with self-financing of only 450,000 Renminbi.[2]
The company drew the world's attention in 2001 when it acquired a steel mill (the Dortmund-Hörde plant) from German industrial giant ThyssenKrupp for 30 million euros and shipped its equipment to China where it was reassembled and resumed operation.[3]
In 2016, the Group headed a consortium that acquired London-based international data center Global Switch Holdings for £2.4 billion (HK$23.03 billion).[4] The consortium bought a 49 percent stake in the company in order to expand Global Switch Holding's strategic infrastructure.[4]
Due to ongoing overcapacity within the steel sector, Jiangsu Shagang Group purchased two internet data firms for $3.8 billion, as part of an attempt to expand into new industries for diversification.[5] The June 2017 deal targets Jiangsu Qingfeng Investment Management Co. Ltd. and Beijing Daily Tech Co. Ltd.[5]
Climate Commitments
Subsidiaries
The following companies are fully or partially owned/operated under Shagang Group Corp., Ltd.
- Steel Industry
- Non-steel Industry
- Shagang (Australia) Co.,Ltd.
- Grange Resources Co.,Ltd
- Guangxi Shagang Manganese Industry Co.,Ltd
- Shenglong Chemical Industry Co.,Ltd
- Shandong Rongxin Group Co.,Ltd
- Linyi Hengchang Coal Chemical Industry Co.,Ltd
References
- ↑ "business sectors", SHAGANG GROUP, Accessed June 2, 2022
- ↑ History of the Shagang Group
- ↑ China shakes the world, James Kynge, Sep. 27, 2006
- ↑ 4.0 4.1 "Chinese group pays £2.4bn for stake in data centre Global Switch". South China Morning Post. Retrieved 2017-07-04.
- ↑ 5.0 5.1 "Steel-Maker Shagang Changes Tack With Internet Acquisitions - Caixin Global". www.caixinglobal.com. Retrieved 2017-07-04.
External links
Wikipedia also has an article on Jiangsu Shagang Group (Shagang Group). This article may use content from the Wikipedia article under the terms of the Creative Commons Attribution-ShareAlike 3.0 Unported License].
