The President of Chinalco Mr. Xiong Weiping, and the President of CSR Mr. Zhao Xiaogang attended the signing ceremony. High level delegates from the two companies, as well as from Sapa Chalco Aluminium Products (Chongqing) Co. Ltd., attended the signing ceremony.
Mr. Xiong mentioned at the ceremony that since the global economic crisis 2008, Chinalco has made a major progress in transforming the business operation of the Group. Chinalco and CSR are both state owned enterprises and both of them have unique strengths in their own business fields. The cooperation between two companies, by executing a long term strategic development plan, will bring a win win situation for the two Groups.
The joint venture company between Chinalco and Sapa, Sapa Chalco Aluminium Products, will be a part of the strategic cooperation agreement. The company is specialized in supplying aluminium profiles and modules to the rolling stock market. Sapa Chalco Aluminium Products will be capable of supplying stronger and lighter materials to this market.
At the ceremony, Mr. Zhao Xiaogang briefed that CSR is the leading enterprise in the rolling stock market in China. The company is capable to deliver to the market self developed trains. CSR has also a high level management system and strong manufacturing capabilities which ensures first class quality products.
Mr Zhao Xiaogang continued that a strategic cooperation with Chinalco will make it possible for CSR to learn from Chinalco's experience of global investments. This signing ceremony will be the start for the two companies to establish detailed cooperation activities. The companies will develop a common business model with the purpose to achieve mutual benefits.
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| The President of Chinaclo Mr. Xiong Weiping, and the President of CSR Mr. Zhao Xiaogang |
Mr. TorbjörnSternsjö, CEO of Sapa Chalco Aluminium Products and Mr. Mr. Zhao Xiaogang, President of CSR |