CSC signs cooperative agreement with China Steel Group of China.

Taipei, Aug. 12, 2009 (CENS) -- The China Steel Corporation in Taiwan (CSC) has signed an annual cooperative agreement with the China Steel Group (CSG) in China, demonstrating both sides' intention to further work together.

The agreement calls for the CSC to expand procurement of iron, steel products as refractory materials, rolling stock and production equipment supplied by the CSG, who will in return procure steel materials from the CSC.

CSC executive vice president L.M. Chung said the agreement will help to boost mutual business deals, specifically including CSC's increased procurement of products from the CSG and its subsidiaries in the near future, without guaranteeing such greater procurements after the signing of the agreement.

T.Y. Huang, vice president of operations at the CSC, said the company and its subsidiaries, including Chung Hung Steel Corp. and Ornasteel Enterprise Corporation (Malaysia) Sdn. Bhd., purchased approximately US$4.5 million of products from the China Steel Group last year.

The China Steel Group in China is a multinational conglomerate engaged in resources development, trading, logistics, engineering technologies, production equipment manufacturing and professional services. The group has some 80 subsidiaries, including 20 overseas, 10 manufacturing plants, and 10 research institutes worldwide.

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