Hebei Province-based Chinese steelmaker Hebei Iron and Steel Co. (Hebei Steel) has announced that it recently inked a shareholding agreement with Shandong Province-based Chinese electronics and home appliances company Haier Group regarding the latter’s special steel project. Accordingly, Hebei Steel will hold a 70 percent stake in Haier Special Steel Sheet Developing Co. Ltd (Haier Special Steel), a subsidiary of Haier Group, while it will enjoy priority in terms of supply to Haier Group.
Haier Special Steel Sheet Developing Co. Ltd is specialized in the research and development (R&D) and production of steel sheet and has two branch companies, namely, Shandong-based Qingdao Haier Special Steel Sheet Developing Co. Ltd (Qingdao Haier Special Steel) and Anhui Province-based Hefei Haier Special Steel Sheet Developing Co. Ltd (Hefei Haier Special Steel). In addition, it holds the largest share in China’s domestic market for steel sheet used in the production of household appliances.