Shanghai Baosteel Group announced that it signed a strategic cooperation agreement with top-three auto maker Dongfeng Motor Corp. Baosteel previously signed similar deals with First Automobile Works Group and Shanghai Automotive Industry Corp.
The deal with Dongfeng focuses on cooperation in steel supply, technological development, steel processing, auto parts processing, logistics management, enterprise administration and vehicle sales. Under the agreement, Baosteel will also establish a sales and service center in Wuhan, where Dongfeng has its headquarters.