Baosteel Iron&Steel Co., Ltd. and TBEA Co., Ltd. have signed the fourth round of Strategic Cooperation Agreement at present. Top leaders from both sides have attended the signature ceremony and deep extensive exchange meeting has been held.
TBEA is the largest manufacturer for transformer and power transmission and transformation equipment with global leading technology in China. It is an outstanding representative for Chinese private companies. TBEA has four business sectors -- Power Transmission and Transformation, Energy Resource, New Energy Resource and New Material. The annual capacity of transformer for Power Transmission and Transformation sector is 260 million KVA.
Baosteel and TBEA signed the last three rounds of Strategic Cooperation Agreement in year of 2009, 2013 and 2016 respectively. Both sides cooperate not only in purchase and sale of oriented silicon steel, but also in application of new products for important projects and mutual-market areas. This has set up a model for creation of shared value. With both sides’ effort, Baosteel has covered the voltage class of oriented silicon steel from 10KV to ±1100KV.
Both Baosteel and TBEA devote themselves to the construction of an outstanding and most competitive global enterprise. In the new round of cooperation, both sides will further consolidate business connections on basis of “continuous and stable” cooperation in oriented silicon steel and cooperate herefrom in all dimensions in deepening mutual-market, supply chain with internet, combined EVI driven laboratory, technical forum etc..
Top leaders of both sides express on the signature ceremony that they will explore high-tech product of oriented silicon steel to promote power transmission and transformation and to create engine for development of new competitiveness, sharing the chances of “the Belt and Road”.
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