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Fujian Sangang Group

Updated: 2013-08-30

The Fujian Sangang Group (Sangang), formerly known as Sanming Iron and Steel Mill, is the largest integrated steel producer in Fujian province, with an annual crude steel output of 70 million tons and total assets of 22.913 billion yuan ($3.7 billion). Sanming was founded in 1958,?which expanded and changed its name to Sangang in April 2000. The group now has 184,000 employees and 12 wholly owned and holding subsidiaries, which includes a listed company - Fujian Sangang Minguang Inc., as well as compact and contract management companies

Sangang has been one of China's Top 500 enterprises since 1988, and ranked number 172 on the list last year. It has also received honors for its achievements, such as the National Labor award, the first prize in the National Health Cup, the Fujian Government Quality award, and has also been recognized by the National Advanced Party Organization and National Advanced Quality Control Organization.

Sangang has taken concrete steps to overcome the situation of high supply and low demand in the steel industry amid the global economic crisis. The group follows the Deng Xiaoping Theory and the important thought of the Three Represents and the Scientific Outlook on Development. It has achieved 39.416 million tons of raw steel production and 14.6 billion yuan ($2.4 billion) in sales revenue for the first half of the year.