Baosteel Metal cooperating with CP Group jointly expanded the market in Southeast Asia

Resource from: CBCC Likes:78

Feb 14,2014

A few days ago, Baosteel Metal signed a strategic cooperation letter of intent with the subordinate of Thailand CP Group which was called Echu Industrial Group. According to the agreement, two sides will cooperate with each other taking metal packaging business as the starting point, and gradually expand to the business of metal products and industrial gas, which aim to jointly develop and expand the market in Southeast Asia and achieve win-win situation. Association of Southeast Asian Nations has a population of 0.6 billion and has a booming economy in recent years, which is the Asian second largest market besides China and has a huge future development potential. Vietnam can factory established by Baosteel Metal in 2013 had been successfully put into production. In accordance with the plan of company, the next step is to speed up the expansion of international especially Southeast Asian markets, realizing the strategic development of mature business. And CP Group is one of the world's largest Chinese multinational companies, involved in several fields including industry, retail merchandising, finance and agricultural byproducts, which has investments in most of Southeast Asian countries and has a wide range of political and economic connection resources. With the aid of complementary advantages, this cooperation among both sides can realize mutual benefits and win-win results.

(CBCC)

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