Maanshan Iron and Steel Company | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-01-06

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Maanshan_Iron_and_Steel_Company


00:01:13 Business



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SUMMARY
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Maanshan Iron & Steel Company Limited (SSE: 600808; SEHK: 323) is China's ninth largest steel producer after Baosteel Group and Wuhan Iron and Steel Corporation. Set along the banks of the Yangtze River in Ma'anshan, Masteel is known as the "flower of Jiangnan (South of Yangtze River in Chinese language)."
Maanshan Iron & Steel, better known as Masteel, turns out 8 million tons of steel annually, 80% of which are of international grade (the remainder is used in-state). Maanshan was developed "into a medium-scale integrated iron and steel complex", starting in 1958 under the Second (five-year) Plan. Its H-beams, plates, wheels, and wires are exported to nearly 50 countries worldwide. The company also makes wheels for locomotives. Formerly a subsidiary of Magang (Group) Holding Company, Masteel was spun off in 1993 and today is publicly traded on the Shanghai and Hong Kong stock exchanges. It has 44,104 employees as of December 2007.On November 26, 2006, the Company acquired a 71% of equity interest in Burwill Coil Centre (Yangzhou) Company Limited.