Reportedly, China's Baosteel announced that the company would purchase parts of shares from Italy's NSM Slitting Processing Center though its Europe's holding company, Baosteel Italia. Also, this is the first time that Baosteel invests the steel slitting center at oversea market.

Baosteel said Italy is one of the major markets in Europe. The company has decided to cooperate with NSM for this project in order to satisfy the increasing demands from the local end users.

Furthermore, the company expects to have stronger business relationship with its customers from Italian automobile and home electric goods by increasing its service quality.