OREANDA-NEWS. April 12, 2011. Baosteel Italian NSM Slitting Processing Center project signing ceremony was held in Baosteel Group Hotel. According to agreement, Baosteel Europe affiliated Baosteel Italy would purchase shares of Italian NSM slitting processing center. It was Baosteel first stock investment in overseas slitting center and key breakthrough in internationalized management, an important step in building up overseas steel supply chain system to enhance overseas customer service, reported the press-centre of Baosteel.

Italian NSM slitting processing center is family enterprise established in 1964 and currently one of Italy's largest independent slitting processing centers. Company has good market fame and stable user groups with extensive growth prospects and long-term sustained fine business cooperative relationship with Baosteel Italy. 

Baosteel Italy, with accumulated sales amounting to near two million tons was jointly invested and established in 2001 by Baosteel Europe and Italian MALAGALZA family. In recent years, with development of European economy, Italian market becomes one of the most important markets of Baosteel European, African, Middle East region; its business modes are changing gradually from singular intermediate trading to processing and delivery services with local processing centers. To fulfill user needs, enhance capacity, Baosteel and MALAGALZA decided on stock ownership cooperation in the slitting processing center after meticulous comparison and sufficient evaluation.

According to agreement, both sides would speed up procedures to ensure smooth operation of the new company in the shortest time with great effort. With stock investment, Baosteel would work on stable supply of premium steel to expand its scope and promote its product renewal; establish more stable cooperation relationship with strategic users of Italian automobile and home appliance industries through enhanced service quality; strengthen enterprise comprehensive competitiveness in a continuous way aimed at developing market and users of high value-added products.

It was acknowledged that besides effective execution of this project agreement, both sides hoped to further establish brand new multi-faceted cooperation guidelines and processes to expand strategic cooperation with win-win results.