Baoshan Iron and Steel Group and the Jiangsu Sha Steel Group 23, signed a strategic collaboration agreement of intent, marking the nation's largest state-owned steel companies and the largest private steel company official launch of strategic cooperation.
Baosteel Group Chairman Xu Lejiang 23 in Beijing to attend the central business and earnest talk Suzhou Cooperation and Development announced this news. Subsequently, the two sides formally signed a letter of intent on behalf of the text.
According to reports, the two sides mainly in technology and management, products and markets, resources and logistics, etc., to carry out a broad strategic collaboration. The agreement specifically provides, Baosteel steel export to the sand technology and management, enhance the market competitiveness of both sides; Baoshan Steel reference to the sand formed in the market a unique competitive advantage and achieve win-win cooperation. Xu Le Jiang said the strategic cooperation is an important decision of both sides is the steel industry leading enterprises of different ownership, the historic co-operation with the symbolic significance of bilateral strategic cooperation is conducive to jointly build China's steel industry's overall competitiveness will help to enhance the industry to meet challenges capacity.
Xu Le Jiang said that the future will prove in practice the outcome of strategic cooperation of both sides are correct, for the Chinese iron and steel enterprises to explore new modes of cooperation and development. Baoshan Iron and Steel Group, last year's output of 44.57 million tons of sand steel output of 26.4 million tons last year.
