Baosteel sets up Europe R&D centre in Germany

Baosteel Europe has established its research & development centre in Munich, Kallanish learns from Baosteel.

At the opening ceremony, Baosteel and Centro Sviluppo Materiali (CSM), owned by Germany’s Rina Consulting, signed a cooperation agreement. CSM specialises in helping companies that wish to incorporate additive manufacturing into their metal businesses, according to public information.

Baosteel said Europe is a strategic location for its overseas business development. Some steel demand, such as for automotive parts, silicon steel, and tin-plated products, is rising in the region. Baosteel established the Europe R&D Centre to better integrate into the European market and develop corresponding products.

As the largest steel company in China and the second-largest in the world, Baosteel believes that its progress in internationalisation is “…slow.” The company previously said it hoped to accelerate international development from 2019. After Jingye reached a deal with British Steel not long ago, Baosteel published an internal article stating that the company needs to be careful to identify problems that hinder internationalisation and identify how to resolve them.