V-LINE EUROPE IN CONTRACT WITH BAOSTEEL CHINA
Shanghai, China, 03/10/2006
Shanghai, China, 10 March 2006. V-LINE EUROPE GmbH announced today the recent signing of a Co-operation Agreement for Procurement Services with Baoshan Iron & Steel Co., Ltd. (Baosteel), China’s largest steelmaker. Products covered are cross-border MRO (maintenance, repair & operations) parts and supplies from the USA and Europe. Signing took place in Shanghai at a just concluded visit to Baoshan by top managers from V-LINE Germany and the V-LINE office in Beijing.
Under this multi-year pact V-LINE services will include introduction of business processes and technology to achieve the most cost effective and transparent MRO procurement and execution of day-to-day foreign-origin purchasing and logistics transactions and activities.
Co-operation Agreements with strategic international vendors are part of Baosteel’s quest to increase its procurement efficiency, a corporate-wide initiative. Earlier agreements under this initiative have been for direct materials whereas the V-LINE pact is for indirect materials, an area where V-LINE has many years experience in the cross-border MRO procurement sector.
V-LINE’s Chief Executive Officer, Detlev Daues, said “we are pleased and honored to have this opportunity to co-operate with a world leading steelmaker such as Baosteel. Our staff in China and the V-LINE support teams in Germany and the USA are excited about their partnering with Baoshan’s team, soon to start, and committed to working together for supply chain success”.
About Baoshan Iron & Steel (Baosteel)
Baoshan Iron & Steel Co., Ltd. is located in Shanghai. It is 85% owned by Shanghai Baosteel Group Corporation and is the state holding corporation’s core operating subsidiary. Called Baosteel, for short, it is China’s leading steelmaker and was ranked among the first three of the most competitive steel producers globally according to “Guide to the World Steel Industry”. Baosteel specializes in producing high-tech and high-value-added steel products and has become the main steel supplier to domestic automobile, household appliances, container, oil and gas exploration and pressure vessel industries. It exports to over 40 countries and regions including Japan, South Korea and countries in Europe and America.
About V-LINE
The V-LINE Group of Companies headquartered in Sehnde near Hanover, Germany was founded In l979 to provide capital intensive industrial plants worldwide with services aimed at reducing the total procurement costs of cross border (foreign-made) spare parts. Today, from two buying / warehousing / logistics operations in Japan and the United States, in addition to its main operations and administrative hub in Germany, it serves a global customer base of large organizations on every continent. For further information, please visit the corporate website at: www.v-line.com
