Gasgoo Munich- On September 8, Schaeffler signed a strategic cooperation agreement with Baoshan Iron & Steel Co., Ltd. (Baosteel) and OBEI Co., Ltd., strengthening collaboration among the three parties in two-way supply of sheet steel, special steel bars and wire rods, and industrial bearings, as well as technical coordination, information sharing, business support and international market development, according to a post on Schaeffler's WeChat account. Image source: SchaefflerBaosteel, a global manufacturer of high-end special steel, has strengths in the development of special steel bar and wire products, large-scale production across multiple sites, and stable supply. OBEI, a first-tier subsidiary of China Baowu Steel Group, focuses on building an industrial products supply chain platform and providing procurement management services while supporting the digital transformation of the industrial ecosystem.Under the agreement, Schaeffler and Baosteel will expand two-way supply cooperation involving special steel products such as bars and wire rods, as well as bearings. The two companies will also strengthen product and service support to promote complementary strengths and closer collaboration. The two sides had previously established a strategic partnership for sheet steel products.Image source: SchaefflerTogether with OBEI, the three parties will deepen cooperation in product certification, the application and promotion of new technologies, product and technical standardization, quality management, equipment maintenance and training. They will also participate at an early stage in the development of new products and technologies, with the aim of strengthening technical coordination and joint innovation.Schaeffler and Baosteel have cooperated in the flat steel segment since 2006. After years of collaboration, the two companies have established a long-term and stable partnership. Baosteel is currently Schaeffler China's largest flat steel supplier, with annual deliveries exceeding 100,000 metric tonnes and accounting for more than 60% of Schaeffler China's flat steel consumption, according to the companies.The agreement marks the formal launch of a new cooperation model linking procurement and sales among the three parties. The companies said the partnership will provide a foundation for strengthening supply chain capabilities and leveraging complementary resources. Going forward, Schaeffler, Baosteel and OBEI will further coordinate supply and demand, enhance cooperation in both technology and business, and develop a more integrated industrial chain partnership.
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