OREANDA-NEWS. April 23, 2012. As 2 main operational businesses of stainless steel and special material sectors under Baosteel Group, Baosteel Stainless Steel Co., Ltd. And Baosteel Special Material Co., Ltd. Were officially launched. Indicating that the re-capitalization and management docking of Baosteel Stainless Steel Business Unit and Special Steel Business Unit have been successful by stages. It is the significant strategy adjustment measures of Baosteel to actively merge with the transformational development of Shanghai and intend to create stronger and better stainless steel & special material business. Xu Lejiang, President of Baosteel Group, Zhou Zhuping, Deputy Manager of Baosteel Group and Wang Li, Board Secretary, assistant manager have attended the opening ceremony, reported the press-centre of Baosteel. 

The 12th five-year, is the crucial period for China's steel industry to transform and develop from a big steel maker to a strong one, and also a great time for Shanghai to build-up the service economy based industrial structure, driven by innovation and transformational development.Baosteel actively responds to policy of Reduction, Efficiency, Adjustment and Development as well as the new request of extend the services, expand the space; accurate positioning, advantages extension; environmental friendly, intensive development, to restructure the steel sectors in Wusong area, and re-capitalize the existing stainless steel and special steel businesses.

In this March, Baosteel Co., Ltd. Held an extraordinary general meeting and approved the proposal on selling stainless steel and special steel business to Baosteel Group. After such acquisition, Baosteel Group has promoted the restructuring plan and established Baosteel Stainless and Baosteel Special Material, devoting in making Baosteel Stainless into service leading, competitive and globally reputated stainless steel brand name, and meanwhile make Baosteel Special Material into a R & D and manufacturing base for high end, new materials.

Lou Dingbo, executive director, general manager of Baosteel Stainless, and Pang Yuanlin, executive director, general manager of Baosteel Special Material have indicated at the opening ceremony that this is a new starting point. Facing with severe market and new corporate development, managers from all levels and all the employees will be agglomerated to actively cope with the future change, focus on their own work as always and create a new career on the new startig point.

At the opening ceremony, Xu Lejiang expressed his congratulation on its establishment. He indicates that Baosteel has invested a lot since its reorganization on Shanghai Steel, great efforts have been made by cadres and staff of Baosteel Stainless Steel and Special Steel. At present, the sustainable development of Shanghai and ourself has pushed us to restructure. However, the strategic position of stainless steel and special material business is not changed. All the staff shall be clearly aware of the situation and background, think, look, work here and now, and work well. Xu Lejiang emphasizes that when we compete on the market, the core competitiveness is rooted on site. The management team and all cadres of Baosteel Stainless and Baosteel Special Material shall keep passionate and promising, work down-to-earth, agglomerate all staff, build up good team, grasp both market and site, so as to joinly compose new development charpter.