It is reported that Chinese steelmaking giant Baosteel has carried out preliminary studies with a view to making possible bids for or signing technology cooperation agreements with Spanish stainless steel producer Acerinox and Finland-based stainless producer Outokumpu, and that is has prepared a budget of €5-10 billion for cooperation with or the acquisition of one of them.
Baosteel has made great efforts in the research and development of stainless steel technology in recent years, and expects to further its efforts in this field through cooperation with one of these two companies.
It is learned the two companies in question have a close relationship with China; Acerinox Company may establish plants in China in the future while Outokumpu has announced that it will set up a new service center in China in March or April this year.
Neither Acerinox nor Outokumpu have commented on the reports so far.