Sinosteel

The company was founded in 1993 as China Iron & Steel Trade & Industry Group Corporation and changed its name to Sinosteel Corporation in August 2004. Sinosteel Corporation is based in Beijing, China.

Sinosteel in 2008 completed a hostile takeover of Australian iron ore producer, Midwest Corporation, cornering 51% of the shares of the company in a A$1.36 billion acquisition. It was the first successful hostile takeover of an Australian public company by a Chinese company.

In 2016, due to heavy debt of 60 million yuan owed to financial institutions, Sinosteel was greenlit for swapping 27 billion yuan of its debt for equity convertible bonds under a new government policy designed to curb run-away corporate debt in the economy.

In 2022, Sinosteel was acquired and became a subsidiary of Baowu, a fellow state-owned Chinese enterprise that is the world's biggest steel maker.

Manufacturing

It also provides manufacturing equipment, such as mining, rotating and sintering, iron making, and steel making and refining equipment; submerged-arch furnace; and continuous casting, rolling, carbon mechanical and electrical, and refractory manufacturing equipment. In addition, the company offers refractories for steel making industry, petrochemical industry, non-ferrous industry, cement industry, and glass industry. Further, it provides carbon products, electro-magnetic material, and non-ferrous metals.

Engineering and technical services

The scientific and technological companies under Sinosteel operate in the areas of geological exploration, beneficiation, heat engineering, environmental protection, refractory materials, metal products and engineering design. Its engineering and construction arm is Sinosteel Equipment & Engineering Co. Ltd., which in 2012 had revenue of $1.09 billion, making it the 188th largest construction and engineering firm in the world. International revenue accounted for $271.3 million of the overall total.