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Tipack was established in 2008 with more than 14 years of global trading experience.
Tipack independently owns core technology patents and is one of the drafters of China's fresh packaging industry standards.
Tipack is a long-term supplier of Fortune 500 such as COFCO, STARBUCKS, China Resources, etc.
Tipack first researched and promoted the use of multi-layer co-extrusion high barrier technology in China.
Tipack provides total fresh packaging solutions for users around the world.
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Steel giants extend downstream to snatch auto parts cake
In recent years, the automotive parts industry has become an attractive target for major steel producers around the world. Thanks to their strong customer relationships and access to raw materials, companies like POSCO and Baosteel are increasingly moving downstream into the auto parts sector. This trend reflects a broader shift in the steel industry, where traditional manufacturers are seeking to diversify and capture more value from the supply chain.
POSCO, South Korea’s largest steelmaker and the fourth-largest globally, recently announced a $2.5 million investment to establish its first auto parts factory in China. This marks a significant step for the company as it enters the automotive components market. The venture will be a joint partnership with Austem, a Korean automotive parts supplier, with POSCO holding a 19.9% stake and Austem owning 80.1%. The plant is expected to start production in early 2009, supplying parts to Shanghai GM.
This move by POSCO has drawn attention from domestic players like Baosteel, which has been gradually expanding into the auto parts industry since 2005. Initially focused on supplying high-quality steel plates to automakers, Baosteel has now taken steps to produce auto parts directly. The company has formed several joint ventures, including one with Canada’s COURT Group, to manufacture transmission components and hydraulic valves. These partnerships have allowed Baosteel to build a solid foundation in the auto parts sector.
Baosteel has also ventured into producing steel wheels for passenger cars and commercial vehicles. In 2008, it launched a wholly-owned subsidiary, Shanghai Baosteel Wheel Co., Ltd., with plans to capture a significant share of the Chinese steel wheel market. The company aims to become the leading manufacturer of passenger car steel wheels in the country.
Beyond wheels, Baosteel is exploring other areas such as body panels, powertrain systems, and chassis components. Its long-term goal is to position itself among the top three auto parts suppliers in China. The company is leveraging its expertise in steel processing, distribution centers, and close ties with major automakers to strengthen its foothold in the industry.
While the potential for growth in the auto parts sector is promising, challenges remain. The industry is still fragmented, with many small players and limited technical capabilities. However, international giants are increasingly entering the Chinese market, intensifying competition. Despite this, Baosteel remains confident, focusing on strategic investments, partnerships, and technological advancements to secure its place in the evolving automotive landscape.