China Baowu and Wanhua Chemical Sign Another Strategic Cooperation Agreement

en.Wedoany.com Reported - On September 22, China Baowu and Wanhua Chemical signed a strategic cooperation agreement at Wanhua Chemical's headquarters. Hu Wangming, Secretary of the Party Committee and Chairman of Baowu, and Liao Zengtai, Secretary of the Party Committee and Chairman of Wanhua Chemical, held discussions and exchanges, and witnessed the signing.

Wanhua Chemical is a globally operating chemical new materials company headquartered in Yantai, Shandong Province. Baowu and Wanhua Chemical have a deep history of cooperation. In 2020, the two parties signed a strategic cooperation agreement and have carried out highly effective cooperation.

Hu Wangming thanked Wanhua Chemical for its long-standing trust in and support for Baowu. He said that the steel industry has entered a development stage of "long-cycle reduction and structural adjustment," and Baowu is actively practicing the "Three Innovations, Four Modernizations, Five Strategies" high-quality development model. During the "15th Five-Year Plan" period, Baowu will firmly uphold the overall goal of "becoming stronger, better, and larger, and building a world-class enterprise," and is committed to building a Baowu that is more innovative, more intelligent, greener, more efficient, and more internationalized. Both the chemical and steel industries are indispensable industrial cornerstones for achieving Chinese-style modernization. As leading enterprises in their respective industries, Baowu and Wanhua Chemical are each other's customers, with a long history of cooperation and broad areas of collaboration. He hopes that both parties will strengthen their sense of mission and responsibility, deepen coordination in supply chains and global layout, and on the basis of consolidating existing cooperation achievements, continue to expand the boundaries of business synergy, explore upstream and downstream cooperation opportunities in the industrial chain, and push cooperation toward broader scope, wider fields, and deeper levels. At the same time, taking this signing as a new starting point, they should further deepen all-round strategic cooperation, work together to reduce costs and increase efficiency, jointly guard against risks and challenges, and achieve high-quality coordinated development.

Liao Zengtai welcomed Hu Wangming and his delegation, and thanked Baowu for its strong support for Wanhua Chemical's development. He said that all-round exchanges and cooperation between the two parties are of great significance. Wanhua Chemical will anchor its planning goals and accelerate development. There is enormous room for cooperation between the two parties, and he hopes that both sides will further deepen strategic cooperation, strengthen learning and exchanges, broaden cooperation areas, create a model of ecosystem cooperation, and achieve mutual benefit and win-win results.

Before the discussion, Hu Wangming and his delegation visited the Wanhua Chemical Cishan Exhibition Hall.

Fei Peng, Member of the Standing Committee of the Party Committee and Vice President of Baowu, and Kou Guangwu, Deputy Secretary of the Party Committee and President of Wanhua Chemical, signed the agreement on behalf of both parties.

Kou Guangwu, on behalf of Wanhua Chemical, presented Baowu with the "Gold Medal Strategic Supplier" award plaque.

Gao Jianbing, Member of the Standing Committee of the Party Committee and Vice President of Baowu; Wu Bin, Assistant to the President and General Manager of the Steel New Materials Business Center; Qin Tiehan, Secretary of the Board of Directors and Director of the Office; heads of relevant departments and subsidiaries of Baowu; and heads of relevant departments of Wanhua Chemical attended the signing.