Wuhan Iron and Steel Company Limited known as WISCO (and formerly WGGF, abb. of pinyin: Wǔgāng gǔfèn), is a subsidiary of listed steel maker Baoshan Iron and Steel; Wuhan Iron and Steel Co., Ltd. was a subsidiary of state-owned Wuhan Iron and Steel Corporation until 2016. The main business was the steel plant in Qingshan District, Wuhan, while the parent company had transformed from steel making company to holding company and M&A vehicle.
On 21–22 September 2016, a merger between Baosteel Group and Wuhan Iron and Steel Corporation was announced. Wuhan Iron and Steel Company Limited would be takeover by the listed counterpart of Baosteel Group in an all-share deal,[2] while all the rights of Wuhan Iron and Steel Corporation would be transferred to Baosteel Group, as both corporations were supervised by the same entity State-owned Assets Supervision and Administration Commission of the State Council.
On 7 July 2016, after a heavy net loss in 2015, Wuhan Iron and Steel Corporation also announced the group would reduce their production capacity by 4.42 million metric tons, which Wuhan Iron and Steel Co Ltd would be cut 1.40 million metric tons, or about 31.7% of the group total.[3]
Stock marketEdit
Wuhan Iron and Steel Co., Ltd. was a component of SSE 50 Index, which was removed in 2011.[4]
wuhan, iron, steel, company, limited, confused, with, with, wuhan, iron, steel, corporation, parent, company, wggf, sister, company, known, wisco, formerly, wggf, pinyin, wǔgāng, gǔfèn, subsidiary, listed, steel, maker, baoshan, iron, steel, wuhan, iron, steel. Not to be confused with with Wuhan Iron and Steel Corporation ex parent company of WGGF now sister company Wuhan Iron and Steel Company Limited known as WISCO and formerly WGGF abb of pinyin Wǔgang gǔfen is a subsidiary of listed steel maker Baoshan Iron and Steel Wuhan Iron and Steel Co Ltd was a subsidiary of state owned Wuhan Iron and Steel Corporation until 2016 The main business was the steel plant in Qingshan District Wuhan while the parent company had transformed from steel making company to holding company and M amp A vehicle Wuhan Iron and Steel Company LimitedTypesubsidiaryTraded asSSE 600005 former code IndustryIron and steelFounded1955 predecessor 1997 incorporation HeadquartersWuhan ChinaArea servedChinaRevenueCN 58 338 billion 2015 Operating income CN 7 935 billion 2015 Net income CN 7 515 billion 2015 Total assetsCN 94 456 billion 2015 Total equityCN 28 291 billion 2015 OwnerBaoshan Iron amp Steel 100 ParentBaoshan Iron amp Steel direct Baowu Steel Group intermediate SASAC intermediate State Council ultimate Websitewggf wisco com cnFootnotes referencesin consolidated financial statement 1 Wuhan Iron and Steel Company LimitedSimplified Chinese武汉钢铁有限公司Traditional Chinese武漢鋼鐵有限公司Hanyu PinyinWǔhan gangtie yǒuxian gōngsiTranscriptionsStandard MandarinHanyu PinyinWǔhan gangtie yǒuxian gōngsiAlternative Chinese nameSimplified Chinese武钢有限Traditional Chinese武鋼有限Hanyu PinyinWǔgang yǒuxianLiteral meaningWu han Steel LimitedTranscriptionsStandard MandarinHanyu PinyinWǔgang yǒuxianSecond alternative Chinese nameSimplified Chinese武钢股份Hanyu PinyinWǔgang gǔfenTranscriptionsStandard MandarinHanyu PinyinWǔgang gǔfenOn 21 22 September 2016 a merger between Baosteel Group and Wuhan Iron and Steel Corporation was announced Wuhan Iron and Steel Company Limited would be takeover by the listed counterpart of Baosteel Group in an all share deal 2 while all the rights of Wuhan Iron and Steel Corporation would be transferred to Baosteel Group as both corporations were supervised by the same entity State owned Assets Supervision and Administration Commission of the State Council On 7 July 2016 after a heavy net loss in 2015 Wuhan Iron and Steel Corporation also announced the group would reduce their production capacity by 4 42 million metric tons which Wuhan Iron and Steel Co Ltd would be cut 1 40 million metric tons or about 31 7 of the group total 3 Stock market EditWuhan Iron and Steel Co Ltd was a component of SSE 50 Index which was removed in 2011 4 The company was a component CSI 300 Index and its sub index CSI 100 Index which was removed from both indexes in 2013 5 In 2015 the company was re added to CSI 300 Index 6 References Edit 2015年年度报告 2015 Annual Report PDF Wuhan Iron and Steel Co Ltd in Chinese Shanghai Stock Exchange 26 April 2016 Retrieved 21 April 2017 China s Top Steel Mills Step Closer to Creating Arcelor Rival Bloomberg 21 September 2016 Retrieved 3 October 2016 武汉钢铁 集团 公司关于化解过剩产能实施脱困发展的公告 PDF Wuhan Iron and Steel Corporation 7 July 2016 Retrieved 3 October 2016 Adjustment list for SSE 180 SSE 50 SSE 380 and other SSE index Shanghai Stock Exchange 13 June 2011 Retrieved 3 October 2016 关于调整沪深300和中证香港100等指数样本股的公告 Press release in Chinese China Securities Index 2 December 2013 Retrieved 12 July 2017 上证180 上证50 沪深300和中证100等指数调整样本股 Press release in Chinese China Securities Index 1 June 2015 Retrieved 12 July 2017 External links EditOfficial website in Chinese nbsp This article about an industrial corporation or company is a stub You can help Wikipedia by expanding it vte nbsp This Chinese corporation or company article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Wuhan Iron and Steel Company Limited amp oldid 1072836868, wikipedia, wiki, book, books, library,
