Baosteel forms stragetic cooperation with Dongfeng
Market sources report that Chinese steel mill Shanghai
Baosteel Group Company signed a strategic cooperation agreement with one of the biggest automakers of the country Dongfeng Motor Corporation. The items of the agreement cover subjects such as steel supply, technological development, processing of steel and auto parts, auto sales and logistics management.
In line with the agreement,
Baosteel will establish a sales and service center in Wuhan, where the headquarters of Dongfeng is located. The officials of
Baosteel state that the agreement holds great significance as it will consolidate company's position in Chinese market.