HBIS Group and South Korea’s Pohang Iron and Steel Co., Ltd. will jointly develop a high-end automotive sheet market

Both Hesteel and Posco are steel companies with global competitiveness and influence.

Pohang Iron & Steel is the largest steel company in South Korea. It has been named the world’s most competitive steel company by World Steel Dynamics (WSD) for 10 consecutive years. It has the world’s leading technical strength, marketing system and high-quality customer base in the field of automotive panels.

Hegang is the most international steel company in China and has become China’s second largest supplier of automotive steel. In 2018, the output of automotive steel exceeded 7 million tons. Cold rolled and coated automotive sheet products covered more than 100 of the top ten series. Each brand covers a full range from structural steel, steel for parts and components, cold-rolled to coated steel, and has the ability to supply automotive steel.

Since the establishment of a comprehensive partnership on August 29, 2017, the two sides have established normalized communication mechanisms in four areas: strategic planning, raw material resources, steel technology, and energy and environment, and have achieved fruitful results.

Beginning in the first half of this year, the two parties carried out multi-level technical and business exchanges on auto plate project cooperation, and reached an intention to cooperate at the capital level.

In the next step, according to the MOU framework signed by the two parties, they will make use of their respective advantages in technology and resources, and use the joint venture as a carrier to strengthen business synergy and enter the high-end automotive plate market together.

Post time: Dec-12-2019