WISCO Logistics Co., logistics subsidiary of Hubei Province-based Chinese steelmaker Wuhan Iron and Steel (Group) Co. (WISCO), plans to create the largest logistics center for steel trading in central China, as reported by Chinese media sources on January 24. The new steel trading logistics center will include logistics parks in Wuhan, Hubei Province and in Chengdu, Sichuan Province.
Meanwhile, WISCO Logistics Co.’s net profit for 2012 indicated a very strong year-on-year increase to over RMB 100 million ($15.9 million), while its shipments of steel products in 2012 amounted to over 16 million mt. Mei Shurong, general manager of WISCO Logistics, stated that annual net profit delivered by WISCO Logistics to its parent company will reach RMB 500 million ($80.1 million) by the end of 2015.