Baowu and Fives deepen cooperation in sustainable steelmaking
Strategic outlook
During the meeting, both parties noted the challenges that the steel industry is facing with green steel development. While certain programs are in place to motivate steelmakers to decarbonize production, they still face high costs, lower demand, and intense competition.
Despite these challenges, both sides agreed that the energy transition will be a decisive factor in shaping the future industrial landscape. As a result, the strategic and long-term cooperation between Baowu and Fives will serve as key drivers to achieve global environmental and competitiveness goals.
Long-term partnership
The partnership between Baowu and Fives began in 1982 and has resulted in the successful execution of over 80 contracts for high-end technology including strip processing lines, cold rolling mills, and more. Building on this foundation, both companies have reaffirmed their ambition to jointly advance smarter and more competitive steel production for a greener future.