Baosteel confident in future
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01/11/2002
As young as an infant, Shanghai Baosteel International Economic & Trading Co Ltd - Baosteel International - under the umbrella of the Baosteel Group has reasons to be confident in its potential for success. Baosteel International integrated previous subsidiaries of the Baosteel Group, which were dedicated to international trade, to form this new-born enterprise. "We have established good trade relationships with major foreign iron ore suppliers in Australia and Brazil, with an annual import volume of 15 million tons of iron ore," said Sun Menxiang, vice-president of Baosteel International. As a veteran businessman, Sun has led his team to forge close ties with thousands of companies in both the domestic and overseas trading business. Sun's humour and intelligence has turned many of Sun's foreign opponents into Baosteel International's loyal business partners. "The majority of them have been suppliers since I was first in charge of purchasing equipment overseas during the early days of Baosteel," Sun explained. In the domestic market, Baosteel International has also formed steady coal supply channels with coal bases in Shandong and Shanxi provinces with an annual trade volume reaching over 10 millions tons. Sun said this guarantees a stable supply of iron and steel, while expanding trade volume and developing resources related to ore and coal mining industries. He pointed out that these factors are important to increase efficiency and lower costs for all Baosteel Group's clients. Baosteel International's products have entered the markets of more than 30 countries and regions. Baosteel's quality structural steel has been used in many well-known projects such as the Shanghai Pudong International Airport, the Turkey- Iran petroleum pipeline project and the Sudan petroleum pipeline project. Sun said, "Because we have multitudinous first-class engineers, we also offer expertise through overseas engineering contracts, design consulting, labour export and other channels. "
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