Baoshan Iron & Steel
Baoshan Iron & Steel, or â€˜Baosteelâ€™ for short, is located in Shanghai and is the largest and most modern iron and steel complex in China. According to the â€˜Guide to the World Steel Industryâ€™ Baosteel is ranked in the top three competitive steel produces in the world. The company has become one of the main steel suppliers to the automobile, household appliance, container and pressure vessel industries. Baosteel exports to over forty countries world wide including Japna, South Korea, USA and countries in Europe.
Activities of the business include steel smelting, steel processing, power generation, industrial gas production and consultancy on technology and management. The companyâ€™s crude steel output in 1999 was 7.5 million tonnes. The majority of this was sold in the domestic market, approximately 82.8%.
Baoshan Iron & Steel is currently ranked by Forbes as the 8th largest company in China and currently employs 38720 people. The Forbes ranking takes into account annual revenue, profits, company assets and estimated market value with equal weighting. For the last fiscal year (2006-2007) Baoshan Iron & Steel had sales that totalled US$ 15.6 billion and profits of US$ 1.6 billion. The estimated total value of Baoshanâ€™s assets are US$ 17.6 billion and the company has an estimated market value of US$ 9.1 billion.