Schaeffler Group and Shougang Corporation Sign Strategic Cooperation Agreement

Schaeffler Group and Shougang Corporation recently signed a strategic cooperation agreement in Beijing. Both sides will give full play to their respective advantages and achieve mutual complementarity and mutual benefit. Dr. Gou Jianhui, Managing Director of the Schaeffler Group Greater China and President of the Industrial Division, and Mr. Wang Yuhai, Director of the Equipment Department of Shougang Corporation attended the signing ceremony.

Schaeffler Group has three brands: INA, FAG and LuK. It is the world leader in the production of rolling bearings and linear motion products. It is also a well-known supplier of high-precision products and systems for engine, transmission and chassis applications in the automotive industry. One of the business.

Shougang Group is a large-scale enterprise group mainly engaged in the iron and steel industry and concurrently operates mining, machinery, electronics, construction, real estate, service industries, and overseas trade. With an operating income of USD 29.2 billion in 2010 and a Fortune 500 ranking of 326, it has significant influence in China's metallurgical industry.

The signing of the contract announced the formal establishment of a strategic partnership between the two parties. Shougang Group will provide the Schaeffler Group with a broader market and give priority to the supplier. The Schaeffler Group will provide Shougang with a full range of products, technical services and research and development support. . While continuously enhancing the core competitiveness of Shougang’s products in domestic and foreign markets, it further consolidated Schaeffler’s market position in related fields.