OREANDA-NEWS. June 22, 2012. Mr. Zhou Zhuping, Vice General manager of Baosteel Group Corporation, Mr. Jia Yanlin, president of Baosteel Metal, Mr. Liu Xunfeng, fdeputy party secretary and president of Shanghai Huayi (Group) Company, Mr. Huang Deheng, vice president of Shanghai Huayi (Group) Company and president of Shanghai Coking & Chemical participated in the signing ceremony. Mr. Sheng Zhongke, general manager of Baosteel Gas and Mr. Wang Wenxi, general manager of Shanghai Coking & Chemical represented from both sides to sign the agreement, reported the press-centre of Baosteel.

Shanghai Huayi (Group) Company is a large-scale enterprise group established by asset restructuring authorized by the State Assets Supervision and Administration Commission of Shanghai Municipal People's Government. The Company owns more than 20 wholly-owned and share-holding subsidiaries, including Shanghai Coking & Chemical Co., Ltd., Shanghai Wujing Chemical Co., Ltd., etc., and nearly 10,000 kinds of products involved in a dozen categories such as basic chemical raw materials, rubber products, etc.

In recent years, Baosteel actively develop steel industry while attaches great importance to the development of multi-industry. Baosteel has more clear and specific requirements on multi-industry development in the new round of development strategy, Baosteel Metal as one of the multi-industry platform, is becoming an industrial cluster, co-existent and common prosperous with steel industry. Of which the gas business is the important part of its strategic products and important carrier of multi-industry, playing an increasingly important role. According to the agreement, Baosteel gas will integrate Shanghai Coking & Chemical existing air separation production equipment and pipeline gas supply, liquid export business in the form of asset acquisition. After the acquisition of Shanghai Coking & Chemical existing air separation asset, Baosteel gas will operate Shanghai Coking & Chemical existing air separation production equipment as the third-party independent gas supply to provide various industrial gas products to Shanghai Coking & Chemical as well ad external markets.

Mr. He Wenbo said in his speech, the co-operation between Baosteel Gas and Shanghai Coking & Chemical opened a new chapter of the strategic cooperation between Baosteel and Shanghai Huayi (Group) Company, and both sides will further deepen cooperation and discuss strategic cooperation in related fields together. Baosteel and Huayi Group will achieve more fruitful results on market resource integration and configuration, upstream and downstream industry chain cooperation and business collaboration, and pay back the society with excellent operation performance, contributing more to Shanghai economic construction.

Mr. Jin Mingda thanks Baosteel for its strong support to Huayi (Group) Company over the years. He said that presently, both Huayi and Baosteel are accelerating the transformation of economic development way respectively. He is looking forward that Huayi and Baosteel will develop further exchanges and cooperation at a higher level and in other areas in the future, working together to create the future.