Sino-Japanese partnership in steel equipment sales
Chinese Wuhan Iron and Steel Group (Wuhan Steel) and Japanese
trading company Sojitz Corporation are merging forces to export
steelmaking equipment in Asia and eastern
Europe.
The strategy calls merging the marketing strength of Sojitz Corporation with the steel equipment engineering capability of Wuhan Steel.
The engineering unit of Wuhan Steel mainly manufactures blast furnace equipment. Sojitz will introduce Wuhan Steel's products to its clients in
India,
Russia and
Taiwan.
The lower
production costs will bring Wuhan Steel an advantage against Japanese steel equipment manufacturers.