Cars

Baosteel to be evaluated for Nissan supply

(Agencies)
Updated: 2010-07-12 14:09
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China's second-largest steelmaker Baosteel Group said it will be evaluated by Japanese carmaker Nissan Motor Co as a global autosheet supplier.

Related readings:
Baosteel to be evaluated for Nissan supply China oks Baosteel's Zhanjiang steel mill
Baosteel to be evaluated for Nissan supply Baosteel targets 66m-ton capacity by 2015
Baosteel to be evaluated for Nissan supply Baosteel merger talks with Baotou Steel collapse
Baosteel to be evaluated for Nissan supply Baosteel scales back expansion target

This is the first time a Chinese steel producer has entered the car maker's global supply evaluation mechanism.

As China's leading auto sheet producer, Baosteel said in a notice on its website that it expected to have more cooperation with Nissan through its partnership with Nissan's car venture with Hong Kong-listed Dongfeng Motor Group Co.

Beijing is encouraging top steelmakers to develop more high-end steel products to increase the market share of larger producers and filter out inefficient capacity, with Baosteel leading the way.

The group, parent of Shanghai-listed Baoshan Iron & Steel, has received regulatory approval for its Zhanjiang project, which is expected to produce high-grade steel products.

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