Stock Code : 600153.SH

RESOURCE-SHARING,
BEING PROFESSIONAL,
VALUE-CREATING

Xiamen C&D Inc. Stock Code: 600153.SH

Stock Code: 600153.SH

News

C&D Iron & Steel Signs Strategic Cooperation Agreement with Magang (Group)

Date: 2023-05-08 | Source：C&D Inc.

On the afternoon of May 5, Ren Tianbao, member of the Standing Committee of Magang (Group) Holding Co., Ltd. (hereinafter referred to as “Magang (Group)”), General Manager and Executive Director of Maanshan Iron & Steel Co., Ltd. (hereinafter referred to as “Masteel”) and his delegation visited C&D Inc. (600153.SH) Steel & Iron Group (hereinafter referred to as “C&D Steel & Iron”). Cheng Dongfang, Vice General Manager of C&D Inc. and General Manager of C&D Inc. Steel & Iron Group, and leaders of related business units warmly welcomed the visit of Magang (Group). Both sides had in-depth discussions and exchanges on overseas layout and development, and signed a strategic cooperation agreement.

According to the strategic cooperation agreement, both sides will make concerted progress in the development and strategic layout of overseas business, give full play to the resource advantages of the two sides in different links of the steel industry chain by jointly investing in the establishment of overseas investment platform companies, and jointly participate in major overseas steel investment projects by means of new construction, merger and acquisition, and jointly promote the implementation of overseas steel industry projects, thus enhancing the international influence of both brands.

Taking this cooperation as an opportunity, C&D Steel & Iron and Magang (Group) will form an irregular meeting mechanism. Guided by the Belt and Road Initiative, both sides will jointly promote steel production capacity to go abroad and enter the international market, and cultivate new growth points.
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