Maersk, Baosteel sign procurement agreement

AP MOLLER-MAERSK Group and Shanghai's Baoshan Iron & Steel Co Ltd (Baosteel) have signed a three-year master procurement agreement for the provision of a wide variety of steel products, including steel for the production of containers, shipbuilding, oil and gas needs.

With the establishment of this master agreement, the two parties also agreed to further explore various business opportunities for further cooperation throughout the world. As the next step, APMM and Baosteel will over the next few months map all potential areas for cooperation between the two groups.

This agreement with Baosteel is important, said AP Moller-Maersk procurement chief Steen Karstensen. We are pleased to have Baosteel onboard and consider this collaboration a milestone in the history of our long presence in China.

Said Baosteel vice general manager Li Yongxiang: Maersk partnership with Baosteel is a result of its confidence in the company in this difficult economic environment. For Baosteel, this is an important win in establishing a relationship with a well known, global strategic client. Baosteel is committed to provide Maersk with the best products at the best price and best in class service.

Source: Schednet