Date: 2013-07-31

Baosteel Develop Steel for Crank Shaft

Baosteel Develop Steel for Crank Shaft

Recently, Baosteel manufacturing department together with other related divisions developed steel for auto crank shaft, laying a foudation for their further developing of high value-added products.

Shanghai Baosteel Group Corporation (Baosteel) is a large iron and steel conglomerate set up on Nov. 17, 1998, with the former Baoshan Iron and Steel (Group) Corporation as the core, and acquiring the former Shanghai Metallurgical Holding Group Corporation and the former Shanghai Meishan Group Co., Ltd.

Baosteel has a registered capital of 45.8 billion Yuan. It possesses 22 wholly owned subsidiaries (including 9 overseas subsidiaries) and 14 holding companies (including 2 overseas subsidiaries) and 24 equity-sharing companies. Among the wholly owned subsidiaries and share holding companies, 11 are iron and steel companies, 2 financial companies, 8 trading companies.

Baosteel is one of the most profitable steel enterprises in the world enjoying international competence, and its annual production capacity is about 20 million tons. Baosteel produces high demand products in the domestic and international market.

On Dec. 6. 2004, Standard & Poors has raised the credit rating of Shanghai Baosteel Group Corporation from BBB to BBB+ with a"stable" outlook. Baosteel was ranked No. 372 on the list of 2003 Global 500 by "Fortune" magazine on July 2004, and became the first of its kind in the competitive industry and the manufacturing sector in China to enter the world's top 500 enterprises.

Baosteel's premium products include automobile steel, oil and gas exploitation and transportation steel, stainless steel

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