Tianjin Pipe Corporation

Tianjin Pipe (Group) Corporation Limited known as Tianjin Pipe (Chinese: 天津钢管) or its aberration TPCO, is the largest stemless steel pipe maker of China as well as one of the largest in the world.

Tianjin Pipe Corporation
Formerly天津钢管集团有限责任公司
TypeState-owned enterprise
IndustryManufacturing
Predecessor天津无缝钢管总厂
Founded
  • 11 December 1987 (1987-12-11)
  • 1993 (incorporated as limited company)
Headquarters
Tianjin
,
China
Productsstemless steel pipes
Revenue CN¥20.199 billion (2016)
 (CN¥1.803 billion) (2016)
 (CN¥1.835 million) (2016)
Total assets CN¥56.547 billion (2016)
Total equity CN¥05.982 billion (2016)
Ownersee list
ParentTianjin Government
Subsidiariessee list
Chinese name
Simplified Chinese天津钢管集团股份有限公司
Traditional Chinese天津鋼管集團股份有限公司
Literal meaningTianjin Steel Pipe Group, Company Limited by Shares
Chinese short name
Simplified Chinese天津钢管
Traditional Chinese天津鋼管
Second alternative Chinese name
Simplified Chinese天管
Traditional Chinese天管
Third alternative Chinese name
Simplified Chinese天津大无缝
Websitetpco.com.cn
Footnotes / references
in consolidated financial statement[1]

History

The predecessor of Tianjin Pipe was founded on 11 December 1987 (as Chinese: 天津无缝钢管总厂; lit. 'Tianjin Stemless Steel Pipe "Head" Factory'); it was one of the project in the Eighth Five-Year Plan of China. The factory was later incorporated as a limited company, under a law that was established in 1993. In 1999 the corporation (Chinese: 天津钢管集团有限责任公司; lit. 'Tianjin Steel Pipe Group Limited Liability Corporation') fall under control by the Ministry of Finance of the People's Republic of China due to debt-to-equity swap, which the four state-owned asset management companies or bad banks, Huarong, Cinda, Great Wall and Orient Asset Management owned 100% stake. In 2003, 90% stake of TPCO was transferred to Tianjin Pipe Investment Holding (Chinese: 天津钢管投资控股有限公司), a company that was supervised by the Economic Commission (Chinese: 天津市经济委员会) of the Tianjin Government. In 2004, 57% stake of TPCO was transferred from Tianjin Pipe Investment Holding to TEDA Holding (Chinese: 天津泰达投资控股有限公司), a company that was supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of Tianjin Government. In 2006 TPCO became a "company limited by shares" (Chinese: 天津钢管集团股份有限公司). In 2007 Bohai Industrial Investment Fund (Chinese: 渤海产业投资基金) acquired a minority stake of TPCO from Tianjin Pipe Investment Holding. In 2010 Tianjin Pipe Investment Holding became a subsidiary of Bohai Steel Group (Chinese: 渤海钢铁集团有限公司), another Tianjin SASAC supervising entity. In April 2016, due to the dissolution of Bohai Steel Group, the shares of Tianjin Pipe Investment Holding was transferred to Bohai State-owned Assets Administration Co., Ltd (Chinese: 天津渤海国有资产经营管理有限公司), a wholly owned subsidiary of Tianjin Jinlian Investment Holding (Chinese: 天津津联投资控股有限公司), another state-owned enterprise that was supervised by Tianjin SASAC.[2]

TPCO had one of the largest Chinese industrial investment in the United States. TPCO America had a share capital of US$298,610,935.84, build a new plant located in Gregory, Texas.[3] However, it was reported that TPCO signed a tax incentive deal with Gregory-Portland Independent School District (GPISD), which supposed requiring the subsidiary to employ local population. However, the company refused to do so, paying fines and request to cancel the deal instead.[4]

Joint Venture

Tianjin Pipe Corporation formed a joint venture (Chinese: 江苏天淮钢管有限公司) with Huaigang Special Steel. TPCO owned 60% stake. Huaigang sold the stake to a third part in 2015. Tianjin Pipe Corporation also formed two joint ventures Tianjin TISCO & TPCO Stainless Steel (Chinese: 天津太钢天管不锈钢) and Tianjin TPCO & TISCO Welding Pipe (Chinese: 天津天管太钢焊管) with Taigang Stainless Steel in a 35–65 ratio (via a subsidiary (Chinese: 天津大无缝投资)) and 50-50 ratio respectively.

Subsidiaries

Shareholders
As of 21 April 2016

See also

References
  1. "2016 nián nián dù bào gào" 2016年年度报告 [2016 Annual Report] (in Chinese). Tianjin Pipe. June 27, 2017. Retrieved August 25, 2017 – via Shanghai Clearing House.
  2. 天津钢管集团股份有限公司关于从渤海钢铁集团有限公司拆分及公司第二大股东股权变更的公告 (in Chinese). Tianjin Pipe. April 21, 2016. Retrieved October 15, 2016 – via Shanghai Clearing House.
  3. "Delegation heads to China to promote Coastal Bend". Corpus Christi Caller-Times. July 20, 2016. Retrieved October 15, 2016.
  4. "TPCO wants out of tax incentive deal from GPISD". kristv.com. December 13, 2016. Retrieved August 25, 2017.
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