Wuhan Iron & Steel (Group) Corporation
Wuhan Iron & Steel (Group) Corporation (hereinafter referred to as WISCO) is the first giant iron & steel complex established after the founding of the People's Republic of China, commenced its operation on Sept. 13, 1958. It is located at Qingshan District of Wuhan, with an area of 21 square kilometers. It has 4 iron ore mines, 2 auxiliary mines distributed in the east and south part of Hubei and Jiaozhuo in Henan.
WISCO has become an importance plate/sheet-making base in China. It is equipped with complete processing equipment composed of mining, coking, sintering, smelting, rolling and so on.
Since reformation and opening to the outside, especially since the 14th national Congress of CPC, WISCO has gradually deepened internal reformation and pushed up technical advanced from a high point, persistently strengthened its management, unremittingly cultivated employees' team with ideality, morality, discipline and culture, and succeeded in creating a new road of combining both quality-profitability with scientific-technological innovation.
By the end of 2003, WISCO has owned 47.313 billion Yuan of an original value of fixed assets with net value of 23.91 billion Yuan. The accumulated iron production was 150 million tons, 141 million ton of steel and 110 million tons of plates. The realized profit and tax was 52.4 billion Yuan, among of which, 40.518 billion Yuan handed over to the government, which is 6.3 times of the investment the state made to WISCO, i.e. 6.42 billion Yuan.
At present, it has the overall annual capacity of 9 million tons of iron and steel respectively and mainly produces several hundreds of varieties, such as hot rolled sheet/coil, cold rolled sheet/coil, galvanized sheet, tinned sheet, cold rolled silicon steel sheet, color coated sheet and heavy sections, wire and rod, medium-sized plate and etc. Moreover, it also makes cokes, refractory, chemical products, powder metallurgical products, copper-sulfur-cobalt concentrated ore, granulated slag, oxygen, rare gases and other by-products. It has contracted project construction, machinery fabrication and automation technology development for others.
On Oct. 1993, WISCO Group was set up after the state approval. WISCO was listed as an important key state-owned enterprise under the direct control of central government on Dec. 2000.
Now, it has preliminary become a large-sized enterprise group with multi-development of steel production as main business and several other industries.
In the recent years, it has won many prizes and titles successively, such as national technical innovation prize, national quality control prize, advanced quality-profitability enterprise of state, national advanced customer satisfactory unit, outstanding contribution prize on China's enterprise management, national advanced party organization, and title of advanced civilization construction unit in China.
Source: WISCO online