Chairman's Speech
Welcome to Iraeta!
As a key global manufacturer of forged components, our products—crafted from a wide range of materials and available in various forms and performance levels—are actively contributing to major engineering projects around the world. These include 20 MW offshore wind turbines, 16-meter-diameter tunnel boring machines, and 700 MW concentrated solar power plants. Unlike these awe-inspiring structures that are visible to the eye, forging plays the unsung hero’s role. Hidden deep within, countless forgings must operate with flawless reliability—often for decades.
I entered the forging industry early in my career, and over the past 40 years, I’ve been fortunate to witness and contribute to numerous industry-defining innovations—whether in materials, processes, or pioneering equipment that pushes the boundaries of engineering. These experiences have only strengthened my belief: whenever humanity seeks to reshape the physical world or harness powerful natural forces—be it water, wind, nuclear energy, or even space—forging consistently provides dependable solutions with limitless potential.
It is this increased reliability and stability that make us the preferred choice for our customers.
Of course, our industry is currently facing unprecedented challenges, particularly the wave of ESG transformation. Thankfully, Iraeta has been proactive in exploring practical strategies—from decarbonized manufacturing and people-first workplace initiatives to strengthening our commitment to social responsibility. These efforts are helping us build a more resilient competitive edge, and we’re excited to share our journey with you—and eager to hear your thoughts along the way.
Niu Yugang, Chairman of Iraeta
Mission
To lead the world in critical forgings for advanced equipment
Vision
Forge a safer, greener, and more efficient future for all
Values
Honesty, Humility
Perseverance, Work
10 Manufacturing Bases in China and Spain
Key Components of Mega Equipment Business Unit
This facility is equipped with a 22,000-ton open-die forging press and a 22-meter diameter ring rolling mill, both of which are world records.
Nuclear and Offshore New Materials Business Unit
Completed in 2022, it can provide special raw material customization in nuclear power, wind power, hydropower, marine engineering, and other fields.
Offshore and Marine Equipment Business Unit
In 2022, it has two 10,000-ton presses and two ring rolling mills with a diameter of 11 m. It mainly produces flanges for 10-30 MW offshore wind turbines and various types of offshore engineering forgings.
Iraeta (Jining)High-tech Equipment Co., Ltd.
It mainly manufactures rod and shaft products, and has GFM radial forging machine and other equipment. The maximum diameter of forged products can reach 1.2 m and the maximum length is 24 m.
FIHI Forging Industry S.L
Located in the Basque Country in northern Spain, it has more than 60 years of forging production experience and occupies an important position in the European wind power flange market.
Nuclear Power and Heavy Equipment Business Unit
Established in 2018, it has one 13.5 MN press and one 16 m-diameter ring rolling mill. It mainly produces super forgings for nuclear power, refining and chemical, and cement industries. In 2022, a ring-rolled steel ring with a diameter of 15.673 m, the largest in the Guinness World Record, was manufactured.
lraeta (Shandong) Grinding Materials Co., Ltd.
Founded in 2015, it is a wholly-owned subsidiary of Iraeta, specializing in the production of wear-resistant steel balls, steel sections, grinding rods, and other products, with an annual production capacity of 300,000 tons.
Wind Power Equipment Business Unit
Established in 2011, it has one 10,000-ton press, one 3,150-ton press, and two heavy-duty ring rolling mills. It mainly produces wind power flanges.
Quenched and Tempered Steel Products Business Unit
Established in 2006, it mainly produces yaw, pitch and gearbox forgings for large wind turbines, as well as slewing bearings for construction machinery.
Transmission Equipment Business Unit
Its history can be traced back to the 1970s, with a fully automatic die forging production line, a five-axis CNC machining center, and a 10,000 m2 logistics warehouse. It mainly produces gearbox forgings, slewing support forgings and pipe flange forgings.
Key Components of Mega Equipment Business Unit
Nuclear and Offshore New Materials Business Unit
Offshore and Marine Equipment Business Unit
Iraeta (Jining)High-tech Equipment Co., Ltd.
FIHI Forging Industry S.L
Nuclear Power and Heavy Equipment Business Unit
lraeta (Shandong) Grinding Materials Co., Ltd.
Wind Power Equipment Business Unit
Quenched and Tempered Steel Products Business Unit
Transmission Equipment Business Unit
History
2006-2010
2011-2015
2016-2020
2021-2025
2006
Iraeta was established and began to enter the wind power market
2009
Obtained VESTAS certification; participated in the drafting of the Ring Type Forgings of Wind Turbine Generator System issued by National Energy Administration
2011
The Wind Energy Equipment Division was put into operation
2013
Passed ISO/IEC17025 laboratory certification
2014
Certified by classification societies such as ABS, BV, DNV GL, NK, KR, and RINA
2015
Established a workstation in cooperation with Academician Li Yiyi of Chinese Academy of Sciences; The Wear-resistant Media Division was established
2016
The Precision CNC Comprehensive Machining Center was completed and put into operation
2018
The Nuclear Energy Heavy Equipment Division was established
2019
Manufactured a seamless forged ring with a diameter of 15.67 m; acquisition of Spain's Iraeta
2020
Provided core components such as cock components, pump support components, compensators, and bottom flange components for the fourth-generation nuclear power plant
2021
Conducted the bankruptcy reorganization of the original Qilu Special Steel, and established Iraeta (Jining) High-end Equipment Technology Co., Ltd.; won China's well-known trademark; won the national manufacturing single championship (wind power flange)
2022
The Offshore Engineering Equipment Division and the Nuclear and Marine New Materials Division were put into trial operation successively; Haicheng Logistics Company was formally established; the second set of two global super-large integral seamless forged rings with a hot diameter of 16 m successfully rolled off the production line and set a Guinness World Record
2023
Relocated Iraeta headquarters to Nuclear Power Deep Sea Industrial Park
2024
Iraeta's overall ultra-large core key forgings production project kicked off; a contract concerning 22,000 tons of the world's largest open-die forging press equipment group was signed
2011
The Wind Energy Equipment Division was put into operation
2013
Passed ISO/IEC17025 laboratory certification
2014
Certified by classification societies such as ABS, BV, DNV GL, NK, KR, and RINA
2015
Established a workstation in cooperation with Academician Li Yiyi of Chinese Academy of Sciences; The Wear-resistant Media Division was established
2016
The Precision CNC Comprehensive Machining Center was completed and put into operation
2018
The Nuclear Energy Heavy Equipment Division was established
2019
Manufactured a seamless forged ring with a diameter of 15.67 m; acquisition of Spain's Iraeta
2020
Provided core components such as cock components, pump support components, compensators, and bottom flange components for the fourth-generation nuclear power plant
2021
Conducted the bankruptcy reorganization of the original Qilu Special Steel, and established Iraeta (Jining) High-end Equipment Technology Co., Ltd.; won China's well-known trademark; won the national manufacturing single championship (wind power flange)
2022
The Offshore Engineering Equipment Division and the Nuclear and Marine New Materials Division were put into trial operation successively; Haicheng Logistics Company was formally established; the second set of two global super-large integral seamless forged rings with a hot diameter of 16 m successfully rolled off the production line and set a Guinness World Record
2023
Relocated Iraeta headquarters to Nuclear Power Deep Sea Industrial Park
2024
Iraeta's overall ultra-large core key forgings production project kicked off; a contract concerning 22,000 tons of the world's largest open-die forging press equipment group was signed
ESG: Doing Well by Doing Green
Forging sits at the upstream core of the industrial supply chain. At Iraeta, our commitment to ESG is more than a promise—it drives real, measurable impact across downstream procurement networks. We pursue low-carbon manufacturing through cutting-edge metallurgical innovation, while staying deeply rooted in social responsibility at every stage of our operations.
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