On June 2, Jiangsu Province-based Chinese steel producer Shagang Steel Group signed a cooperation agreement with domestic private sector logistics firm Tiantian Logistics Co.
Accordingly, Tiantian Logistics has been commissioned by Shangang Steel to transport its cargos.
In 2010, the sales revenue of Shagang Steel amounted to RMB 178.6 billion ($27.4 billion), while its pre-tax profit totaled RMB 12.8 billion ($1.97 billion).