A Strategic Cooperation Frame Agreement signed between TISCO and China Minmetals Corporation

 

 

Signing ceremony of strategic cooperation frame agreement Photographed by Bai Zhibin

      

A signing ceremony of the strategic cooperation frame agreement was held by and between Taiyuan Iron & Steel (Group) Co., Ltd. (hereinafter “TISCO”) and China Minmetals Corporation (hereinafter “China Minmetals”) on October 12^th in Beijing. Chairman of TISCO, Mr. Li Xiaobo, and his counterpart in China Minmetals, Mr. He Wenbo presented the ceremony and delivered speeches. Mr. Gao Xiangming, the general manager of TISCO and his counterpart in China Minmetals, Mr. Yao Ziping, signed the agreement as the representatives of each company. Mr. Chai Zhiyong, the board director and vice general manager of TISCO attend the ceremony as well.

      

According to the agreement, the two companies will solidify their cooperation in fields of steel trade and material supply, as well as extend their cooperation to logistics, overseas market exploration and steel e-commerce, in line with the principles of equality and freewill, long term cooperation, common effort and mutual benefit. TISCO and China Minmetals will maximize their common superiorities and benefit by setting up communication mechanism, coordination mechanism and information sharing mechanism between high level managements of both companies. The signing of the agreement stands for an opening of win-win cooperation between two parties. It will be a beginning for both companies to pursue wider and higher level cooperation and achieve their transformational development.

 

Li Xiaobo stated in his speech that China Minmetals, who played a predominant role in China’s import and export of metal ore, and TISCO, a big steel producer experiencing more than 80 years development had intersections in a lot of businesses, which forged an inherent cooperation foundation for both companies. Achievements and friendship formed during the long term cooperation in terms of metal raw materials and steel products had laid rigid cooperation base. Under the new norms, Chinese economy and steel industry had to face new challenges of transformational development. In the way to realize their strategic targets, the two companies would share wider cooperation space. TISCO held good prospection in their coming cooperation in logistics and storage, steel e-commerce, oversea resources and market exploration. It was believed that both companies would see the agreement signing as the start of their hand-in-hand cooperation and the preface of a win-win chapter.

      

He Wenbo expressed in his speech that, in a period when steel industry developed in a moderate speed and faced re-structure challenges, reform was the only way out of corner, and cooperation was the only way to lead development. The strategic cooperation frame agreement signed today presented to both companies more cooperation opportunities in commodity raw material, steel trade, logistics, e-commerce, overseas market, and other sectors. Several cooperation programs with strategic significance and marketing prospect in regards with overseas market exploration and stainless steel industry chain were mentioned by the two companies as indispensable choices and momentous acts to strengthen cooperation, adapt to development trend, overcome challenges, turn hardship into opportunity, and achieve transformational development. He hoped by aid of their joint superiorities and resources, the two partners create a breakthrough in finding a new cooperation mode in commodity trade and lifting the weightiness of stainless steel in steel industry, and so as to set up an example of mutual beneficial and win-win cooperation for the industry. He hoped both companies seize the opportunity existed in the industry structure adjustment, push forward the progress of specific cooperation programs and explore more growth points; he hoped both companies respond actively to the initiative of “the road and belt”, march to overseas market hand in hand, bravely “go out” to the international markets with stronger competiveness and force. He believed the two partners would be able to create more values for the customers and a better tomorrow for the companies, as long as the two hold the same faith, aim at the same target, and take synergetic movements.

      

In the meeting before signing ceremony, He Wenbo extended his welcome to the visit of TISCO team led by Li Xiaobo and expressed appreciation for the trust and support from TISCO. He said China Minmetals would spare no effort in fulfilling the agreement. He promised to strengthen service awareness and to be a value-added link in steel industry chain. Li Xiaobo thanked China Minmetals for its support and help. He stated that based on their long cooperation history and good partnership, a promising prospect would be expected to the future of the two companies.

      

Related personnel from TISCO and China Minmetals attended the signing ceremony as well.