BEIJING, Nov. 30 (Xinhua) -- The Belt and Road Energy & Steel Company (BRESCO) project jointly developed by HBIS Group Co., Ltd. and Duferco International Trading Holdings, global leading steel trade service provider from Switzerland, has set a model for Chinese companies to go global.
When speaking at the 9th International Capital Conference (ICC) on Thursday, Long Yongtu, co-chairman of ICC and former Vice Ministry of Commerce of China, said that the BRESCO project is an example of successful Sino-European cooperation, which fully reflects the complementary advantages of China and Europe and also provides confidence and demonstration for Chinese enterprises to go global.
HBIS Group Chairman Yu Yong said the project has fully utilized the advantages of HBIS in the manufacturing industry and Duferco’s global marketing service network and formed a global trade, investment, financing, production and service network to provide customers with a comprehensive service platform.
In recent years, Chinese steel companies have been undergoing transformation towards high-end products manufacturing and growing number of high-end customers when going global.
Through cooperation with Duferco's professional technical and business teams, HBIS has improved its market service and technical strength, enabling it to provide better services to downstream customers, according to Yu.
Yu also said that Duferco helped HBIS access to the Central European market. By the end of 2017, HBIS completed overseas investment of 1.1 billion U.S. dollars and controlled overseas assets of over 8 billion dollars, and the current rate of return on investment of this project is more than double digits.
Mathew De Morgan, CEO of Duferco International Trading Holdings, said Duferco has established joint ventures in a number of countries and has extensive experience in cross-cultural management. In the process of cooperating with Chinese companies, Duferco can help Chinese companies to achieve better cross-cultural management, especially risk management, and minimize the risk.
(Edited by Yang Qi, kateqiyang@xinhua.org)
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