Tag: Norinco

Formally known as China North Industries Corporation and Ordnance Industry Group, Norinco is a state-owned enterprise established in 1980 that is involved in many industries, including the manufacture of vehicles, machinery, explosives, fuel air bobs, firearms and ammunition. The company is also known for its high quality defense products that include high precision strike systems, long-range weaponry, anti-aircraft and anti-missile systems, and night vision products. Norinco is included among China’s 500 largest state-owned firms and as such, its main function is to provide products for the Chinese military. It also produces products for civilian use such as heavy construction machinery and chemicals.

In 1993, the importation of Norinco’s products in the US was stopped due to new trade rules and China’s worsening relationship with the US. On May 2003, the US government heavily imposed sanctions on the company due to allegedly selling to Iran materials that were capable of becoming weapons of mass destruction.

The company has 157 factories, 20 overseas offices, and 60 branches that employ 279,600 people. In 2012, the company’s total asset was approximately 290 billion yuan. In 2013, it has reached 10.05 billion yuan in profits and was ranked 161^st in Fortune’s Global 500 Companies.