Last Updated :
22 May 2009 at 06:00 IST
POSCO Japan plant in-line
Commodity Online
Korean steel major POSCO (SEO:005490) has announced that it has finally set-up Japan steel plant with annual processing capacity of 150,000 metric tons to be utilised for automobile production.
POSCO operates as an integrated steel producer in Korea. The Japan factory is named POSCO-Japan Kyushu Processing Center and it will facilitate the steel demand of Japanese car maker Toyota Motor
Corp.
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POSCO also finished steel-processing plants in India and Thailand in April 2009 to quench the steel demands of electronic and auto companies. Notably, POSCO has been ranked 43rd Globally in Forbes World’s Most Reputable Companies list.
Analysts recommend to ‘Hold’ the stock. It lost 1.91% at Seoul Stock Exchange on Thursday and was last traded at KRW411,500. It touched a 52-week high of KRW596,000 and low of KRW234,500.
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