Definitions for baosteel
baos·teel

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1. baosteel

   China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. The company was formed by Baosteel Group absorbing its smaller state-owned peer, Wuhan Iron and Steel Corporation in 2016. It is the world's largest steel producer.In 2015, Baowu was the second largest steel producer in the world measured by crude steel output, with an annual output of around 35 million tons (China's total steel production in 2015 was 803.8 million tons), and employed 130,401 employees as of the end of 2012, had annual revenues of around $21.5 billion, and produces a mix of products. In 2019, the company closed the gap with ArcelorMittal reaching 95.47 million tons of steel, and hitting $78 billion in revenues, with 195 434 employees.According to World Steel Association (Chinese companies data were provided by China Iron and Steel Association), the corporation was ranked the 5th in 2015 the world ranking by production volume (2nd in China for 34.938 million metric tons). A plan to merge with Wuhan Iron and Steel Corporation was announced on 21–22 September 2016, which would make the combined production volume the second highest in the world (34.938 million + 25.776 million), after ArcelorMittal (97.136 million in 2015), surpassing Hesteel Group (47.745 million in 2015). Since Baosteel Group and Wuhan Iron and Steel Corporation also announced targets of cutting 3.95 and 4.42 million metric tons production capacity respectively in June and July 2016, and a further cut for Baosteel Group of 2.10 million while a 3.15 million cut was already planned the final ranking may still significantly change. The IPO of the subsidiary of Baosteel Group on the Shanghai Stock Exchange in 2000 was the largest in China up to that time, raising CNY 7.7 billion despite being limited to domestic investors only.

WikidataRate this definition:0.0 / 0 votes

1. Baosteel

   Shanghai Baosteel Group Corporation, commonly referred to as Baosteel is a state-owned iron and steel company headquartered in the Bao Steel Tower in Pudong, Shanghai, China. Baosteel is the second-largest steel producer in the world measured by crude steel output, with an annual output of around 30 million tons. It employs 130,401 employees as of the end of 2012, has annual revenues of around $21.5 billion, and produces a mix of high-quality products. Baosteel's IPO on the Shanghai Stock Exchange in 2000 was the largest in China up to that time, raising CNY 7.7 billion despite being limited to domestic investors only.

How to pronounce baosteel?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say baosteel in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of baosteel in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of baosteel in Pythagorean Numerology is: 7

Examples of baosteel in a Sentence

1. Hu Yanping:

   Baosteel is having a difficult time too, given the industry downturn, and the government-led restructuring will put more burden on the company.

2. Baosteel Group:

   In particular, the charges claiming that Baosteel stole commercial secrets from U.S. Steel is rootless speculation and subjective assumption, and could even be described as an absurd statement, baosteel has not and will never steal to obtain technology.

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References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Baosteel
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=baosteel