China's steel giant, the Baoshan Iron and Steel Company, recently exported 750 tons of automobile steel sheets to Italian auto producer Fiat. This was the first time the Chinese firm has exported a large quantity of its auto sheets.
According to company sources, the deal was reached in May, after Fiat conducted anti-erosion tests on the steel sheets.
Fiat also agreed to buy 200,000 tons of automobile steel sheets annually from Baoshan over the next few years, if the first lot proves satisfactory.
Targeting China's expanding auto industry, Baoshan is giving top priority to the development of its auto steel sheet products.
The steel giant based in Shanghai now produces over one million tons of high quality auto steel sheets a year and holds more than half of the domestic market share.
FAW-Volkswagen, Guangzhou Honda, Shanghai Volkswagen and other major auto makers in China are all customers of Baoshan. It has also passed the joint accreditation of General Motors, Ford and Chrysler.
(People's Daily 09/06/2001)
