Sinopec and Shougang Start Strategic Collaboration
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Aug 15,2006
Sinopec and Shougang Start Strategic Collaboration
August 14, China News Service source. Sinopec signed a strategic agreement with Shougang Steel Group, indicating Shougang Steel will become Sinopec's preferential client, enjoying superiority in lubrication supply. Also both parties are expected to fully cooperate with each other in respect of strategic purchasing and market expansion.
Mr. Zhang jianhua, vice president of Sinopec, said that the cooperation will be based on long-term preferential lubrication supply and professional service, devoting to create more opportunities for further development in other petrolluem chemical fields. Wang qinghai, general manager of Shougang Steel, indicated strategic cooperation will also include many other aspects, like products developing to meet the demand of working condition, market expansion, sharing of new technologies etc.
With the winning of 2008 Olympic bid, Shougang Steel has begun to carry out its "Move-out Beijing" project to moderate Beijing's pollutions. Meanwhile, they seized this opportunity to have their scaled technical innovation and reform processes undergone. During the reforms, they will introduce some advanced equipments from domestic or oversea, which would raise new requirements for their lubrication solution.
Sinolube, the lubrication subsidiary of Sinopec, is the largest lubrication producer in China, ranking fourth in world. They have lubricated the Shenzhou series spaceships and the "Xue Long Hao" doing research jobs in Nothern pole, was also filled with lubrication from Sinolube. Besides, Sinolube is also the assigned supplier of lubrication for 2008 Beijing Olympic Game.
Shougang Steel Group, situated in Beijing, is one of the largest steel makers in China.
(cbcc-yinx)
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