Last Updated :
19 November 2009 at 14:50 IST
Posco to increase steel plants in China
SEOUL (Commodity Online) : South Korea’s leading steel maker, Posco on Thursday said it plans to increase automotive steel processing centers in China as part of efforts to solidify its presence there.
In a statement issued here the company said, "We are also planning to form joint ventures with Chinese companies to produce automotive parts".
Posco is currently operating 15 plants in China that process steel used for automobiles.
Posco has set up 41 steel-processing plants across Japan, China, and 10 other countries.
China's auto production is expected to rise 30 percent this year to over 13 million units.
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