China Railway Materials Company (CRM), China's main provider of railway materials and products, has announced that it has signed a strategic cooperation agreement with major Chinese steelmaker Hebei Iron and Steel Group.
In 2010, the two parties had signed their first strategic cooperation agreement, initiating cooperation in the fields of steel, mining resources and energy. According to the latest agreement, the two sides will increase cooperation in the areas of flat steel products, heavy steel rails and mining resources. At the same time, they have also signed agreements regarding purchases of finished steel and steel rails.