On March 1 2005 Sinosteel Corporation (Sinosteel) signed the Strategic Cooperation Agreement respectively with ThyssenKrupp RST (ThyssenKrupp), Marubeni Corporation (Marubeni) and Elkem ASA (Elkem) in Beijing. The signing ceremony was attended by some senior leaders from the SASAC, Ministry of Commerce, National Development & Reform Commission, CCCMC and China Iron & Steel Association. Also present were the Minister and Head of the Economic and Commercial Section of the German Embassy, commercial counselors of Japanese and Norwegian embassies in China.
In his speech at the ceremony, Sinosteel President Mr. Tianwen Huang highlighted the importance of accelerating internationalized operations as one of the most critical corporate strategies. The three strategic Agreements will consolidate the long-existing partnerships and lay solid win-win foundation for mutual growth in the long run.
In their respective speeches, the senior representatives from ThyssenKrupp, Marubeni and Elkem congratulated the signing of the Agreements with Sinosteel and expressed wills of improving cooperation and bilateral development.
ThyssenKrupp is one of the most important industrial companies in
Cooperation between Sinosteel and ThyssenKrupp started over 20 years ago. Since equipment purchase in 1980s bilateral interactions have expanded into diversifies steel-related sectors. Coke trading volume in 2004 alone achieved 300,000 tons. Bauxite and fluorspar cooperation is also being extensively implemented.