Wuhan Iron and Steel Corporation
Corporate brand
UnclaimedA major Chinese state-owned steel group founded in Wuhan in 1958 and incorporated into China Baowu Steel Group through the 2016 merger with Baosteel Group.
Last updated October 9, 2026
Overview
Wuhan Iron and Steel Corporation, commonly known as WISCO or Wugang, was a major Chinese state-owned steel enterprise based in Qingshan, Wuhan, Hubei. Its main steelmaking complex was established as part of the industrial program associated with China's First Five-Year Plan and began operating in 1958. The enterprise subsequently developed into a large group with production and affiliated operations in several parts of China, including Wuhan, Ezhou, Xiangyang and Guangxi. The corporation's business centered on the manufacture and processing of steel products for industrial customers. Its portfolio included general steel products, steel plate, wire rod and higher-value products such as automotive steel and electrical steel, including silicon steel. Through its operating units and subsidiaries, WISCO served sectors that required both volume steel and more specialized grades. The group also expanded beyond its original Wuhan base by acquiring or developing steel assets in Hubei and Guangxi. A subsidiary, Wuhan Iron and Steel Co., Ltd., was established in 1997 to list the Qingshan steel operation on the Shanghai Stock Exchange, while Wuhan Iron and Steel Group became a holding structure. WISCO was administered as a central state-owned enterprise under the State-owned Assets Supervision and Administration Commission of the State Council. It ranked among the world's major steel producers by output in 2015, although that period also brought severe financial and operational pressure. Following a heavy net loss in 2015, management announced plans in July 2016 to remove a combined 4.42 million metric tonnes of capacity from the Qingshan, Echeng and Xiangyang plants. The group also pursued workforce reductions; chairman Ma Guoqiang announced a plan to reduce staffing by 50,000 from a workforce of approximately 80,000. The company made an international expansion move in 2012 by agreeing to acquire Tailored Blanks, an automotive-components manufacturer from ThyssenKrupp. Tailored Blanks specialized in laser-welded automotive blanks, linking WISCO to a higher-value segment of the vehicle supply chain. The transaction price was not publicly stated in the cited material. WISCO's independent corporate structure ended during China's state-owned-enterprise consolidation drive. In September 2016, the proposed merger with Baosteel Group was announced. The plan provided for Wuhan Iron and Steel Company, the listed subsidiary, to be absorbed by Baosteel's listed counterpart through an all-share transaction, while the unlisted Wuhan Iron and Steel Corporation was transferred to Baosteel Group without consideration because both parent groups were supervised by the same state-assets authority. The parent-company merger was completed in November 2016, and the listed-company merger followed in February 2017. The resulting organization became China Baowu Steel Group. WISCO therefore continued principally as an operating and organizational component within Baowu rather than as an independent major steel group. Ma Guoqiang moved to senior leadership of China Baowu, while Liu Xiang, previously WISCO's deputy general manager, succeeded him in the top WISCO role and also became a deputy general manager of China Baowu.
History
Wuhan Iron and Steel Corporation originated in the industrial construction program of the People's Republic of China. Its Qingshan steel plant in Wuhan was designated one of the 156 important projects associated with the First Five-Year Plan. The facility began operating in 1958 and became the foundation of a major steelmaking group in Hubei province. Over subsequent decades, WISCO expanded from a single Wuhan production base into a broader corporate structure. In 1997, Wuhan Iron and Steel Co., Ltd. was incorporated to hold and list the Qingshan steel operation on the Shanghai Stock Exchange. The parent Wuhan Iron and Steel Group was transformed into a holding company and developed a network of related assets. This expansion included steel operations in Ezhou and Xiangyang in Hubei, activity in Liuzhou in Guangxi, and the construction of a new plant in Fangchenggang, Guangxi. The Liuzhou operation was returned to the supervision of the Guangxi state-assets authority in 2015. WISCO's production portfolio included steel plate, wire rod and other steel products, together with more specialized materials such as automotive steel and silicon steel. Its scale placed it among China's largest steel producers and among the world's leading producers by output. The group also sought to strengthen its position in downstream automotive materials. In September 2012, it agreed to purchase Tailored Blanks from ThyssenKrupp. The target manufactured laser-welded blanks for vehicle production, giving WISCO an international downstream operation and access to a specialized automotive-components business. The middle of the 2010s was a difficult period for the Chinese steel sector and for WISCO. The corporation recorded a heavy net loss in 2015. Executive chairman Deng Qilin was investigated for corruption that year, and Ma Guoqiang became chairman in June. Ma announced a plan to reduce the workforce by 50,000 from approximately 80,000 employees. In July 2016, WISCO also announced a plan to remove 4.42 million metric tonnes of capacity across the Qingshan, Echeng and Xiangyang plants. WISCO's institutional history changed decisively through state-owned-enterprise consolidation. On 21–22 September 2016, the merger plan with Baosteel Group was announced. Because both groups were supervised by the State-owned Assets Supervision and Administration Commission of the State Council, the unlisted Wuhan Iron and Steel Corporation was transferred to Baosteel Group without consideration. The listed Wuhan Iron and Steel Company was to be absorbed by Baosteel's listed company through an all-share transaction. The parent-company merger was completed in November 2016, and the listed-company combination was completed in February 2017, creating the China Baowu Steel Group structure. After the consolidation, WISCO ceased to operate as an independent parent group but remained represented within the Baowu organization. Ma Guoqiang moved to China Baowu as chairman of the board and Party Committee secretary. Liu Xiang, formerly WISCO's deputy general manager, replaced him in WISCO's senior leadership and also became a deputy general manager of China Baowu. The group's legacy therefore continues primarily through its plants, operating units, products and organizational role within China's largest steel group.
- 2017
Listed-company merger completed
[1]The listed Wuhan Iron and Steel Company was absorbed by Baosteel's listed counterpart through the planned all-share transaction.
- 2016
Merger with Baosteel Group completed at parent level
[1]The parent-company merger with Baosteel Group was completed in November, bringing WISCO into the organization that became China Baowu Steel Group.
- 2015
Leadership change and restructuring pressure
[1]Ma Guoqiang replaced Deng Qilin as chairman, while the group faced a heavy net loss, a corruption investigation involving Deng and a proposed reduction of 50,000 employees.
- 2012
Agreement to acquire Tailored Blanks
[1]WISCO agreed to acquire Tailored Blanks from ThyssenKrupp, extending its activities into laser-welded automotive blanks.
- 1997
Listed subsidiary is incorporated
[1]Wuhan Iron and Steel Co., Ltd. was incorporated to list the Qingshan steel operation on the Shanghai Stock Exchange, while the group was reorganized as a holding company.
- 1958
Qingshan steel plant begins operation
[1]The Wuhan Qingshan steel plant, one of the major projects associated with the First Five-Year Plan, began operating and formed the industrial base of WISCO.
Products and positioning
Large state-owned Chinese steel producer with an industrial base in Wuhan and capabilities spanning commodity steel, automotive materials and electrical steel.
Steelmaking
Steel products
WISCO's core business was the production and processing of steel for industrial and construction customers. The group operated an integrated production base in Wuhan and related assets elsewhere in China, giving it substantial output capacity before its incorporation into China Baowu.
Flat steel
Steel plate
Steel plate was among the group's principal product categories. It represented WISCO's role as a large-scale producer of flat steel products for industrial applications and downstream manufacturing.
Long steel
Wire rod
Wire rod was part of WISCO's reported product range and complemented its flat-steel output. It served as a basic material for downstream industrial and manufacturing processes.
Automotive materials
Automotive steel
Automotive steel was a higher-value focus within WISCO's portfolio. The group also pursued downstream automotive-material capabilities through the 2012 agreement to acquire Tailored Blanks, a manufacturer of laser-welded blanks.
Electrical steel
Silicon steel
Silicon steel was one of WISCO's notable specialized offerings. This electrical-steel category positioned the group beyond basic steelmaking and toward materials used in electrically oriented industrial applications.
Automotive components · 2012
Laser-welded automotive blanks
Through Tailored Blanks, WISCO gained exposure to laser-welded blanks used in vehicle manufacturing. These components combine steel sections of different grades or thicknesses before forming, supporting automotive weight reduction and material optimization.
Controversies
2017
Former Chairman Deng Qilin Sentenced to 15 Years in First-Instance Bribery Case
In May 2017, Deng Qilin, former chairman of Wuhan Iron and Steel Group, was sentenced to 15 years in prison in a first-instance ruling for accepting more than 55.39 million yuan in bribes, with the related assets recovered in accordance with the law. This entry covers the sentencing development in the previously investigated case and the personal duty-related crime of the former head.
2015
Investigation of executive chairman Deng Qilin
Deng Qilin, WISCO's executive chairman, was investigated for corruption in 2015. The investigation occurred during a period of financial strain, workforce restructuring and leadership change at the group.
Brand decisions
2016
Reduce production capacity by 4.42 million metric tonnesStrategyBackground
The decision followed a heavy net loss in 2015 and broader pressure to address excess steel capacity.
Action taken
WISCO announced capacity reductions at its Qingshan plant in Wuhan and its Echeng and Xiangyang plants, totaling 4.42 million metric tonnes.
Aftermath
The capacity plan formed part of the group's restructuring before its merger into the Baowu organization.
2016
Merge with Baosteel GroupM&ABackground
WISCO and Baosteel were both supervised by the State-owned Assets Supervision and Administration Commission of the State Council, creating the institutional basis for consolidation.
Action taken
The unlisted WISCO parent was transferred to Baosteel Group without consideration, while the listed Wuhan Iron and Steel Company was designated for absorption by Baosteel's listed counterpart through an all-share transaction.
Aftermath
The parent merger was completed in November 2016 and the listed-company merger in February 2017. The combined group became China Baowu Steel Group.
2012
Acquire Tailored BlanksM&ABackground
WISCO sought to expand its automotive-materials activities beyond primary steel production.
Action taken
The corporation agreed to acquire Tailored Blanks from ThyssenKrupp. The cited material does not disclose the transaction price.
Aftermath
The acquisition agreement gave WISCO an international downstream automotive-components operation focused on laser-welded blanks.
Recent events
- 2017
WISCO incorporated into China Baowu[1]
M&A · Leadership change
Following completion of the parent merger in November 2016, the listed-company merger was completed in February 2017, consolidating WISCO within China Baowu Steel Group.
- 2016
WISCO announces 4.42-million-tonne capacity reduction[1]
Other
After a heavy net loss in 2015, the corporation announced plans to reduce capacity at its Qingshan, Echeng and Xiangyang plants by a combined 4.42 million metric tonnes.
- 2016
WISCO and Baosteel Group merger plan announced[1]
M&A
China announced the planned consolidation of Wuhan Iron and Steel Corporation with Baosteel Group, including the transfer of the unlisted parent and an all-share absorption of the listed subsidiary.
- 2015
WISCO announces major workforce-reduction plan[1]
Other
New chairman Ma Guoqiang announced a plan to reduce the group's workforce by 50,000 from approximately 80,000 employees.
- 2012
WISCO agrees to acquire Tailored Blanks from ThyssenKrupp[1]
M&A
Wuhan Iron and Steel Corporation agreed to acquire automotive-components manufacturer Tailored Blanks, a business specializing in laser-welded blanks for vehicle manufacturers.
Sources3 sources
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