Jiangsu Shagang Group Company Limited, Jiangsu Shagang Group, Shagang Group or Shasteel is located in Zhangjiagang, Jiangsu, China, an Economic Development Zone of the Yangtze River. According to a 2008 survey conducted by the All-China Federation of Industry and Commerce (ACFIC), the company was the largest privately owned company in China at the time. It involves the production and sales of "Shagang" brand name steel products.
History
Formerly "Jiangsu Shagang Group Company Limited", it was established in 1975 with self-financing of only 450,000 Renminbi.[1] At the end of 2007, it employs over 26,700 staff, covers an area of 10 km2, and has total assets over RMB100 billion Yuan.
The company drew the world's attention in 2001 when it acquired a steel mill (the Dortmund-Hörde plant) from German industrial giant ThyssenKrupp for 30 million euros and shipped its equipment to China where it was reassembled and resumed operation.[2]
Shagang Group acquired the controlling stake in