COSCO and Shougang Sign memo of closer partnership
COSCO Group and Shougang Group held a joint seminar in Beijing to review the past cooperation and explore the prospect of the partnership in the future. On the seminar, a Memo of Closer Strategic Partnership was signed by both parties. Mr. Zhu Jimin, Chairman of Shougang Group and Capt. Wei Jiafu, President and CEO of COSCO Group delivered remarks on the seminar.
The both parties summarized achievements they have gained since the Framework Agreement of Strategic Partnership was signed in May 2004, and discussed cooperation on steel products purchase, iron ore transportation and logistics in the future. On this basis, Mr. Liu Shuiyang, Deputy Managing Director of Shougang Group and Capt. Wang Futian, Vice President of COSCO Group signed the Memo respectively.
The signing of this memo has not only witnessed the cooperation between COSCO and Shougang in past two years, but also symbolized the partnership is stepping into a new period. This relationship will help COSCO and Shougang support each other on their core businesses, upgrade core competitiveness in their respective business areas and promote a stable and sustainable growth of the both parties.