Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) has signed a memorandum of Cooperation (MOC) with Guangdong Province-based Chinese company Guangzhou Automobile Group Co., Ltd (Guangzhou Automobile Group).
The new agreement will deepen cooperation between the two sides in terms of finished steel sales, steel procurement and automotive steel projects.
Previously in November 2012, Ansteel had inked a strategic framework agreement with Guangzhou Automobile Group in areas involving in finished steel supply, technological development and automobile parts manufacturing.
Guangzhou Automobile Group 's main businesses cover the design and manufacturing of vehicle and parts for domestic and foreign markets, sales of automobiles, auto logistics, auto finance, auto insurance and related services.