Hubei Province-based Chinese steelmaker Wuhan Iron and Steel (WISCO) announced on its website on January 18 that it has signed a strategic corporation agreement with Panasonic Corporation of China.
WISCO and Panasonic Corporation of China originally began their cooperation in 2008. Over the past three years, both parties expanded their field of cooperation, achieving success in business and in research and development.
Peng Chen, the general manager of WISCO's listed company, indicated that Panasonic Corporation of China has products covering a wide range of applications and is providing advanced eco-friendly products for WISCO. The strategic agreement will be beneficial to both WISCO and Panasonic, the WISCO official said.
Naoaki Watanabe, director of the procurement department of Panasonic Corporation of China, stated that the company will procure more WISCO products, increasing the share of WISCO products in the overall volume of products it procures. Mr. Watanabe said he hopes WISCO can introduce more new products and help Panasonic to lower its costs.