The Tangshan Iron & Steel (Group) Co held a ceremony, on March 20, to celebrate its acquisition of 10 percent of Switzerland’s JCDecaux Co shares in a cooperative move that symbolizes Tangshan Iron & Steel’s further progress in internationalizing itself.

Tangshan Iron & Steel’s president, Yu Yong, described the cooperation with JCDecaux by saying the it will make global and domestic resources more effective and improve product quality and the company’s image. Management and company competitiveness also obvious stand to benefit a great deal, Yu added. At the same time, there was a signing ceremony by the two companies for a capital agreement on steel product exports worth $1.2 billion.

JCDecaux is an international iron and steel trader that sold 30 million tons of iron and steel products, using its sales network that circles the globe.