Baosteel Group has stated that it signed a framework agreement for steel supply with Commercial Aircraft Corporation of China (CACC) on December 29, in a move aimed at strengthening strategic cooperation, and also cooperating in the field of materials, between both sides.
Baosteel had previously entered into an agreement on strategic cooperation with CACC, to carry out comprehensive cooperation on research of new materials, manufacturing of aircraft parts, financing, and mechanisms for talent exchange and information sharing. As stated by Baosteel, all work in these areas is currently progressing according to plan.