Chinese steel producer Anshan Iron and Steel Group Corporation (Ansteel) has announced that it has signed a memorandum of understanding (MoU) with leading European-based wire producer Bekaert for a close partnership in the future between the two companies.
In particular, with the signing of the MoU, the companies will have the opportunity to explore strategic cooperation projects focusing on the growing demand for advanced wire products in the Chinese market. This partnership will support the development and leadership positions of both Bekaert and Ansteel.
Commenting on the agreement, chairman and CEO of Ansteel, Mr. Xiaogang Zhang, said that Ansteel is expecting to expand its relationship with Bekaert and bring together the operational excellence, leadership position and common interests of both companies.
Bekaert is a global market and technological leader in advanced metal transformation and advanced materials and coating.