OREANDA-NEWS. April 18, 2012. Baosteel and SCG plan to cooperate again to build a steel construction enterprise which is domestically the best and worldwide top-class company, reported the press-centre of Baosteel. 

Few days ago, a share transfer ceremony of BSC (Jiangsu) Co., Ltd has been held. BSEE transferred 50 percent share of BSC (Jiangsu) to SCG Mechanical Construction Company. Both side will be connected via assets, exert each side advantage, occupy market and create better future.

Chairman of the board of Baosteel Group Co.,Ltd.,Xu Lejiang; Vice General Manager, Zhou Zhuping; Secretary of the Party committee of SCG holding Co.,Ltd, Jiang Zhiquan; Chairman of the board and president, Xu Zheng and charge person of related department of both side attended the ceremony.

BSC(Jiangsu) is invested and built by BSEE last year and specialize in manufacturing heavy steel construction, was the first project which started and completed in one year in Haibao Industry Zone. Annul capacity of project reach 150 thousand steel construction production and it is domestically the biggest capacity for a single unit at present among steel construction company.

Focus on shaping prefect industry chain so that benefit to develop the steel construction market, BSEE and SCG holding co., reach the agreement on transferring shares of BSC(Jiangsu), BSEE transferred 50 percent share of BSC (Jiangsu) to SCG Mechanical Construction Company. Both side will be connected via assets, exert each side advantage, so as to consolidate and deepen strategic cooperation.

Bian Jiajun, vice president of SCG holding co., ,said when giving a speech, 'successfully signing protocol of transferring shares means friendly cooperation of both side upgrade into a higher level. SCG will insist on purpose of sincere cooperation and making joint-efforts, together with Baosteel, build BSC(Jiangsu) into top-class enterprise which combine engineering ,machining and construction in china, and become a successful and typical joint case of powerful company.'

Jiang Weimin, General Manger of BSEE said in the signing ceremony ' Transferring of shares and joint investing BSC(Jiangsu) Co., Ltd is to complement each side disadvantage, consolidate and deepen strategic cooperation. After signing the protocol BSEE will work closely with SCG Mechanical Construction Company, further exert advantage of technique, management and marketing of each side to build a powerful and competitive enterprise.'

Before the signing ceremony, Xu Lejiang and other Baosteel leader had a warm meeting with Jiang Zhiquan and other SCG leader. Both side expressed that under the mind of integrity, collaboration and innovation, joint efforts of both side, build BSC (Jiangsu) Co., Ltd. Into
Domestically best and worldwide top-class steel construction enterprise.