On October,18, Asian Steel Group and Hebei Hongrun Heavy Industry Co.,Ltd. Formally signed the Strategic Cooperation Agreement in Cangzhou, Hebei. Depending on the technology and brand advantage of Asian Steel Group, both sides will take 50 thousand tons of vertical hot extrusion unit of Hongrun Heavy Industry as the platform to jointly carry out the research & development and manufacture of the large diameter high grade steel pipe and realize information exchange, resource sharing, complementary advantages and common development through the exchanges and cooperation in the field of business.

For the strategic cooperation between Asian Steel Group and Hongrun Heavy Industry, the content focuses on the advances in technology of the large pipes as well as owning the independent intellectual property right and building the manufacturing capacity of the high-end material, which, strategically, is consistent with the requirements of “Innovation-driven, transformation and development ” of the current country and local government. At the same time, under the background of intense competition in the homogenization in iron and steel industry,  the cooperation this time can both play the professional talent, technology and equipment advantage in the respective field of both sides, enhance the manufacturing capacity and core competitiveness of both sides and play a promoting role in the aspects such as conservation of resources, environment friendly, reducing waste and reducing the cost for both sides. Asian Steel Group is a large state-owned enterprise while Hongrun Heavy Industry is a well-known private enterprise, so the cooperation of both sides is good for the complementary development of the channel advantage and brand advantage. And at the same time they can learn from each other,  borrow the other side’s experience and advantage in various aspects such as production, management and business etc. Complement each other and ultimately achieve common development.