Home > Community > Metals & Mining > Hebei Steel Group Hangang's 40 new products made 71mln yuan profit

Hebei Steel Group Hangang's 40 new products made 71mln yuan profit

Published: 19 Nov 2009 00:25:35 PST

Nov. 18 MetalBiz--“The high-grade steel products produced by Hangang new area will enter West-East National Gas Transmission Project's main line very soon.” Recently, Li Guiyang, board chairman of Hebei Steel Group’s Hangang delightedly stated that Hangang has first developed X80 pipeline steel in Hebei steel enterprises, and passed the authorities performance test only once.

Although affected by the international global financial crisis, steel market in the hard times, Hangang does not slow down the new step of technology innovation. In January-October, Hangang’s new products made the profit of over 71mln yuan, creating the best level in same period on the record. Powerfully supported by the technology innovation, in the first nine months, Hangang accumulatively achieved the profit of 458mln yuan, especially in Hangang’s new region whose operation is less than one year, its profit of 211mln yuan accounts for around 50% of the total profit.

The speeding-up new products’ research and development, benefits from the significant improvement of equipment level. Li Guiyang introduces that with the acceleration of structural adjustment, currently, Hangang’s part procedure equipment level has enter the international advanced level.

Since the beginning of 2009, Hangang succeeded researching and developing eight series including the pipeline plus petroleum piping steel, auto frame steel, type steel, low-alloy high-intensity steel, bridge steel, steel for making safe, stern tube steel and shipboard steel concerning more than 40 new products. Among them, X80, X70 pipeline steel fills Hebei gap.