September 08, 2008

Baosteel and Hanbao forms alliance

It is reported that Baosteel Group formed alliance with Handan Iron and Steel Group and they would together establish a joint venture, Hangang Hanbao Iron and Steel Company Ltd.

As per report a ceremony was held for signing the joint venture contract. Both parties will work together to construct the joint venture a modern iron and steel company with a competing ability of world’s first level. Before the ceremony, executives from both companies had a deep talk on Hanbao’s construction and development and other specific items.