Strategic Cooperation Agreement with Winsway Coking Coal Holdings
Jul. 15. 2010
Marubeni Corporation (hereinafter called Marubeni) has executed a Strategic Cooperation Agreement with Winsway Coking Coal Holdings Limited (hereinafter called Winsway), one of the leading suppliers in China of imported high-quality coking coal.
Through the Agreement , both parties have agreed to expand coal sales to the Chinese market through Winsway. The parties started their co-operation in JFY2009 and aim to reach target sales of over 2 million tons per annum of coking coal from Australia, Canada and other countries.
Marubeni recognizes the Chinese market, which is expanding quite rapidly, as one of the most important markets for coking coal and equally important as the Japanese market and expects to result in an increase in its coal trading volume to China.
Also Marubeni will be able to handle Chinese and Mongolian coal as Winsway was the largest off-taker of Mongolian coking coal in 2009. Therefore, Marubeni will endeavor to maintain a stable coal supply to Japanese and other markets.
This Strategic Cooperation Agreement includes provision for joint coal resource development to be conducted by both parties in the future and the possible consideration by Marubeni to acquire a shareholding in Winsway.
Company profile for Winsway
|Company name||:||Winsway Coking Coal Holdings Limited|
|Main business||:||Distribution and transportation of coal from Mongolia and other countries into China through its integrated platform which includes logistics parks, coal washing plants , and road and railway transportation capabilities along the coast, rivers and inland borders of China, including Inner Mongolia.|
|Location of Registered Office||:||The British Virgin Islands|
|Company representative||:||Mr. Xingchun Wang, Chairman & CEO|