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Taiyuan Iron & Steel's 2011 revenue hits RMB 127 bln

Jan. 13, 2012 (China Knowledge) - Taiyuan Iron & Steel (Group) Co Ltd, a major stainless steel producer in mainland China, saw its operating revenue rise 9.01% year on year to RMB 127 billion in 2011, sources reported.

Gao Xiangming, General Manager of the group, said that the company's pre-tax profit increased by RMB 1.67 billion to RMB 4.9 billion last year.

Taiyuan Iron & Steel produced 9.9 million metric tons of steel last year, 3.13% more than two years ago. The group's stainless steel output rose 11.03% year on year to 3.02 million metric tons, maintaining the position as the world's largest stainless steel maker for the third consecutive year.

This year, the group aims to realize RMB 138 billion of operating revenue and produce 10.84 million metric tons of steel, including 3.1 million metric tons of stainless steel.

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