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Mainland, Taiwan steel firms sign co-op pact

(Xinhua)
Updated: 2009-02-11 10:56

Steel giants from the Chinese mainland and Taiwan signed a strategic cooperation pact Tuesday.

Beijing-based Sinosteel Corporation President Huang Tianwen and Lin I-shou, chairman of Taiwan's E-United Group, signed the agreement.

Sinosteel will set up a branch in Taipei for better coordination and cooperation with E-United.

Sinosteel is the largest steel service provider on the mainland. It is involved in trading, developing and processing, while E-United is one of Taiwan's largest steel makers. It also has medical, education and estate development operations.

Sinosteel will offer E-United service in providing raw material, fuel and equipment and add it to its steel sales network, said the agreement. The companies will also step up cooperation in marketing and technology.

During a meeting with the two executives, also on Tuesday, Chen Yunlin, president of the mainland's Association for Relations Across the Taiwan Straits, said their cooperation amid the economic crisis reflected forward-looking strategies and would promote cross-Straits economic cooperation.