Fangda Special Steel announces fatal accident at BF No. 2

Thursday, 30 May 2019 11:47:41 (GMT+3)   |   Shanghai
       

Jiangxi Province-based Chinese steelmaker Fangda Special Steel has stated that an explosion occurred at its blast furnace No. 2 on May 29, resulting in the death of one worker and injuries to nine others. BF No. 2 is a 1,050 cubic meter blast furnace with an annual iron-smelting capacity of 1.25 million mt. The company expects that the accident will have a negative impact on its annual production performance for 2019.

Fangda Special Steel is the biggest production base in China for flat rolled steel used in the production of springs and laminated springs for the automotive sector.

In 2018, Fangda Special Steel achieved an operating revenue totaling RMB 17.286 billion, up 23.96 percent year on year, and a net profit of RMB 2.927 billion.

In the first quarter of the year, Fangda Special Steel’s operating revenue amounted to RMB 3.936 billion, up 1.9 percent year on year, and a net profit of RMB 470.0 million.

 


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