POSCO launches Malaysia operations
Published on: November 12, 2008 at 16:45
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KUALA LUMPUR : South Korea’s steel giant POSCO on Wednesday launched its Malaysia operations as part of its expansionary drive into Southeast Asia.
The world's fourth-largest steel maker will spent $16 million last year to purchase 60 percent of MEGS, Malaysia's sole electrolytic galvanized steel maker, to beef up its supply value chain in the region.
After giving its added unit a new name, POSCO said it raised POSCO-Malaysia's production capacity by 50 percent to 180,000 tons a year.
The facility will churn out steel sheets used to manufacture televisions, DVD players and other home appliances. Major electronics makers such as Samsung and Sony have a presence in Malaysia, demanding about 250,000 tons of galvanized steel per year, but they rely heavily on imports.
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In India, gold is considered as one of the prestigious instruments of investment among the household consumers. Small household units are now becoming potential investors for gold from the key consumers. The demand for consumption purpose is no longer the main driver of demand for the yellow metal, but the systematic investments in retail gold investment options is the latest crush among the small investors in the country. 
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