Chinese steelmaker Wuhan Iron and Steel (Group) Corp. (
WISCO) has stated that it has integrated all its logistics units with the establishment of
WISCO Logistics Management Co. on December 26, while it is targeting annual revenues of over RMB 10 billion ($1.65 billion) for the company by 2018.
The newly-established logistics company includes all
WISCO's logistics and ports units, i.e, six large ports including Zhejiang Zhoushan Wu Port Co., warehouses totaling 200,000 m2, and 1,600 vehicles including vans, trucks and special vehicles. In 2012,
WISCO's gross profit amounted to RMB 3 billion, with one third of the figure provided by its logistics units.