Baowu News

China Baowu and China Railway Materials Carried out full-scale Strategic Cooperation [ 2019-03-21 ]

On morning, March 18th, China Baowu and China Railway Materials signed strategic cooperation agreement and decided to carry out full-scale strategic cooperation in aspects of commercial, technologies and information, etc. by both sides. Party Secretary of CPC China Baowu Committee and Chairman of China Baowu Chen Derong, general manager of China Baowu and deputy secretary of CPC China Baowu Committee Hu Wangming; and responsible people of China Railway Materials Zhu Bixin, general manager of China Railway Materials and deputy secretary of CPC China Railway Materials Committee Liao Jiasheng attended the signing ceremony. Hu Wangming and Liao Jiasheng signed on behalf of respective sides. 


China Railway Materials Group Corporation (China Railway Materials for short) is China’s comprehensive provider of railway production service with the longest history, the greatest scale, the fullest product scope, the strongest service capacity, and the richest professional experience.


According to contents in strategic agreement, China Baowu and China Railway Materials would strengthen cooperation in steel product resource guarantee and technical support. Establish new product and new technology cooperation technical specialist teams, and cooperate in developing new products and new technologies needed in areas of railway and rail traffic etc. to realize domestic production for materials; strengthen cooperation in area of raw materials, fully display respective advantages and reduce raw material purchase costs; carry out in-depth cooperation in integral logistics to improve efficiency, lower costs, and enhance competitiveness and influence of both sides in logistics market; and strengthen supply chain service cooperation.    


Chen Derong pointed out at the signing ceremony, in the era of industrial Internet, China Baowu and China Railway Materials, as traditional enterprises, had both been seeking new breakthrough, and were full of hopes for future strategic cooperation between both sides. Not long before, the 1st CPC Congress of China Baowu clearly pinpointed the vision to become leader of the global steel industry and the main route through building high-quality steel eco-system. Signing of agreement today by both sides was only a starting point, and the landing routes of specific cooperation of both sides should be further clarified. Cooperation in aspects of logistic layout of heavy assets and light assets, diversified development, and risk control, etc. should be sped up to satisfy demands of both sides for strategic development.       


Zhu Bixin said at the signing ceremony, the timing of signing the strategic cooperation agreement between China Railway Materials and China Baowu was exact. Since alliance and restructuring of China Baowu, fine dynamics of “1+1>2” were generated. China Railway Materials expected to fully deepen strategic cooperative partnership relations with China Baowu, and display strategic cooperative partnership effects in the process of implementing strategic business layout of “one foundation, five elements” by China Baowu to help boost high-quality development of both sides. China Railway Materials was full of confidence for strategic cooperation between both sides, and believed that it would definitely achieve abundant results. 


Member of CPC China Baowu Committee Standing Committee, Party Secretary of CPC Baosteel Co., Ltd. Committee and Chairman of Baosteel Co., Ltd. Zou Jixin, vice general manager of China Baowu, responsible person of Wuhan Headquarter, Party Secretary of WISCO Committee and executive director of WISCO Guo Bing, and Member of the Standing Committee of CPC China Railway Materials Committee, and vice general manager Du Bo and Xu Zengtang etc. attended the signing ceremony.

Source:Baowu News Centre