CNBM Joins Hands with Daewoo Korea for Clear International Route

On November 18, 2011, China National Building Materials Corporation signed a strategic cooperation agreement with Korea Daewoo International Co., Ltd. in Great Hall of People. The signing of this strategic cooperation agreement marks that China Building Materials Group and Daewoo International Co., Ltd. will form a global strategic partnership. The two sides will take this as a new starting point, strive to build a new platform and mechanism for cooperation and development, constantly broaden the areas of cooperation, gradually deepen the content of cooperation, and achieve common development in mutual benefit and win-win situation. Song Zhiping, Chairman of China Building Material Group, and Li Dongxi, Vice President and CEO of Daewoo International, attended the event and delivered speeches. Huang Anzhong, Vice General Manager of China Building Material Group, and Cui Qihe, Vice President of Daewoo International, signed the strategic cooperation agreement on behalf of both sides. The signing ceremony was presided over by Wei Feng, Assistant General Manager of China Building Material Group.

Daewoo International Co., Ltd. is a world-renowned international trade and investment enterprise with a glorious history. It has a leading position in steel, chemical industry, machinery and equipment, minerals and energy industries, and plays an important role in the economic development of Korea and the economic exchanges between China and Korea. In August this year, with the strong support of China Building Material Group, Daewoo International Co., Ltd. and China United Cement Group successfully completed the equity transfer of Daewoo Cement (Shandong) Co., Ltd. and established a good cooperative relationship between the two sides. During his visit to Daewoo International in October, Chairman Song Zhiping held friendly talks with Vice Chairman Li Dongxi, conducted in-depth exchanges on strengthening cooperation in ore, steel, timber, coal and other fields, and reached broad consensus on establishing a mutually beneficial and win-win cooperation mechanism.

At the signing ceremony, Song Zhiping said that China and South Korea have obvious advantages as close neighbors, and the economic and trade cooperation between the two countries has developed rapidly in an all-round way. Last year, the bilateral trade volume reached 200 billion US dollars. On October 26 this year, South Korean President Lee Myung-bak held talks with Chinese Vice Premier Li Keqiang, laying a solid foundation for expanding cooperation between Chinese and South Korean enterprises and pushing bilateral trade and investment to a new level. China National Building Material Group is one of the world's top 500 enterprises and the largest comprehensive building material industry group in China integrating scientific research, manufacturing and circulation. It has a leading position in the fields of new dry cement, new building materials, float glass, glass fiber, composite materials, scientific research and design of building materials, complete sets of equipment, iron ore and timber trade. At the same time, China Building Material Group has maintained long-term cooperative relations with many well-known international enterprises and has a broad basis for international cooperation. CNBM Group and Daewoo International have established a strategic partnership, and the two sides will carry out multi-faceted and in-depth cooperation in iron ore mining, steel products, CNBM cement products, Daewoo International wood products, chemical products, carbon fiber and wind turbine blade trade.

Lee Dong-hee said in his speech that Daewoo International, as the best comprehensive trading company in Korea, has made remarkable achievements in international trade, resource development and other undertakings. While maintaining its current business, Daewoo International is committed to securities investment, new energy development and other undertakings, and is developing towards a top international comprehensive trading company. As the largest building material enterprise in the world, China Building Material Group is also actively developing new undertakings. Today, I am very honored that Daewoo International can become a partner with China National Building Material Group, a world-class enterprise. This once again proves the unlimited possibilities of cooperation between the two sides, especially in the joint development and investment of iron ore mines, iron ore products, building materials, mineral resources and other fields, I believe that better results will be achieved, and thus promote the common development of other industries and fields.

Also present at the signing ceremony were Cui Lijun, General Manager of Beijing New Group, Cui Xingtai, Vice President of China National Building Material Corporation, Zhang Dingjin, Vice President of China National Building Material Corporation, Yu Xianfeng, Vice General Manager of Beijing New Group, and Wu Xiang, General Manager of China National Building Material Group Import and Export Corporation Shanghai Company. As well as Xue Hongshou, Vice President of Daewoo International and President of China, Sun Guangmin, Director of Daewoo International Strategic Cooperation Department, Jin Mingzan, Vice Director of Daewoo (China) Management Department, Bai Shangrun, Vice Director of Material Department, Li Dongxuan, Director of Machinery Department, and Jin Junyou, Director of Iron and Steel Department.

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