October 22, Switzerland, HBIS CCP & Group Chairman Yu Yong met HBIS Duferco Chairman Bruno Bolfo and listened to the performance presentation made by Duferco CEO Mathew De Morgen.
Mr.Bolfo congratulated Mr.Yu being elected the new director of World Steel Association(WSA) and Yu Yong briefed Bolfo the previous sessions in WSA annual meeting and his meeting with leaders of POSCO, JFE, Tata Steel and Siemens. He said an important position in WSA meant HBIS had been acknowledged by the international body. HBIS also is taking its status more seriously and making it more international, public and rule based company.
For future development, Yu Yong said from the perspective of Chinese industry, manufacturing and service industry would be more specialized and would be on a similar path of European industries. More leading Chinese enterprises are focusing more on services. Recently, HBIS has carried out major reforms in client optimization, product structural upgrade, supply chain financing and industrial services. HBIS also believes that the status of an enterprises is determined by its products.
Yu Yong said, in its product and client structure upgrade efforts, HBIS should remember the extraordinary contribution of Mr.Bruno Bolfo and HBIS Duferco. The value of Mr.Bruno Bolfo and Duferco to HBIS is not only about business channel and platform, but also the new concepts in clients, products and business models. We will share the progress we’ve made in product upgrade and client structure with Mr. Bruno. We believe we will see more improvement in HBIS.
Mr.Bolfo thanked Yu Yong for sharing the important information and shared his forecasts in European steel industry and future world economy. He said the challenges in Europe and America was daunting and we need to handle carefully.
Mr.Bolfo agreed with Mr.Yu and said it was important to improve our quality and services. Improvement of an enterprise relies on the improvement of technologies and services. To promote the brand and images of an enterprise and the pride of the teams, we need the technologies and high quality.
In the afternoon, Morgan presented the Duferco performance to Yu Yong. Yu Yong highly praised excellent performance of HBIS Duferco and efficiency of Duferco executive management team.
Yu Yong emphasized that all physical economies and trade entities were facing tremendous challenges. HBIS Duferco is watching the world steel trade market and shifting its focus to structural reform and keep it parallel with HBIS group. It successfully increases the export ratio of high end products, an amazing development.
Yu Yong emphasized that HBIS Duferco was an extremely important enterprise within the group, and as ever, HBIS would continue to provide full support to the company. The group wishes to have a more competitive, more independent and more profitable Duferco. Since the takeover, in practice, including trade, HBIS has never interfered with Duferco operations. In future, the biggest support to Duferco will be more independence in business and maintain its competitiveness. HBIS Group will also offer full support to Duferco in trade and M&A in Chines market.