QUOTE AND NEWS
Reuters  Jul 17  Comment 
Adani Mining Pty Ltd on Thursday said South Korea's POSCO Engineering & Construction Co Ltd will build the rail line for a long-delayed A$16.5 billion ($15 billion) coal and rail project in Australia.
Reuters  Jul 16  Comment 
(Adds items on Catalunya Banc, Espirito Santo, Lone Star Funds, Group Oi, Lloyds Banking, S&P and POSCO)
The Economic Times  Jun 29  Comment 
ArcelorMittal and South Korea’s Posco abandoned investment projects worth $14 billion due disputes over land acquisition and other clearances.
SeekingAlpha  Jun 25  Comment 
By Stephen Simpson, CFA: It looks like a new day for POSCO (PKX), Korea's giant steel company, as new management has made it clear that the empire-building of the past is going away in favor of a greater focus on margins, returns on capital, and...
Market Intelligence Center  Jun 24  Comment 
POSCO (PKX) traded between $70.98 and $71.25 before closing at $71.13 Monday and presents some attractive trading opportunities today. MarketIntelligenceCenter.com’s patented algorithms selected a Nov. '14 $70.00 covered call for a net debit of...
Market Intelligence Center  Jun 17  Comment 
After closing Monday at $70.49, POSCO (PKX) presents an attractive opportunity to get a 2.43% return in just 60 days, which is an annualized return of 14.78% (for comparison purposes only). To enter this trade, sell one Aug. '14 $70.00 call for...
The Hindu Business Line  Jun 16  Comment 
Posco Engineering & Construction India, a wholly owned subsidiary of Posco E&C Co Ltd, Korea, has signed a MoU with PNC Infratech Ltd to develop and execute infrastructure projects in Indi...
Market Intelligence Center  Jun 2  Comment 
MarketIntelligenceCenter.com's option-trade picking algorithms have identified an attractive covered-call trade on POSCO (PKX). Look at the Aug. '14 $70.00 covered call for a net debit in the $68.34 area. This trade has a duration of 75 days. The...




 

POSCO steel producer in Pohang, South Korea. Incorporated in 1968, it was able to produce 32.8 million tons of steel in 2007. 2/3rds of its revenues comes from the South Korean Domestic market. However, other major countries are increasing their business with the once number 1 steel producer in the world. (In 2008, Arcellor Mittal became number 1.) Of the foreign revenue, China is the largest customer with 30%, the Japan with 20%. The rest of Asia makes for the rest of the revenue. It is important to note that India's demand market for steel has been growing and with good relations between South Korea and India on a number of cross-border transactions, most notably Tata Motors Ltd.'s acquisition of Daewoo Commercial Vehicle (now Tata Daewoo Commercial Vehicle), POSCO has built a major office in India.

POSCO's products include, but not limited to, hot rolled and cold rolled products, plates, wire rods, silicon steel sheets and stainless steel products. It is also known for preparing steel for manufacturing, most notably in Shipbuilding.



History

The formation of POSCO came about as a result of the Korean government's desire for self-sufficiency in iron and steelmaking, with availability of local steel seen as important for Korea's economic development. With construction of the Pohang works stared in 1970 , and of the Gwangyang Works in 1983, part-privatisation of the company took place in 1988. By 1998, the South Korean government had reduced its equity ownership to less than 20%.

POSCO shed its former name (the Pohang Iron and Steel Company) in 2002, and it is shortly after this point that a more international approach to business development set in[1]. This approach saw much greater emphasis placed on foreigh investment and in joint ventures outside Korea, including:

  • participation in the Benxi cold-rolling joint venture in China in 2004
  • construction of the Zhangjiagang stainless steel plant in China in 2005
  • agreement with the government of Orissa, India about investment in a greenfield integrated steel plant in 2005
  • acquisition of a majority stake in Vietnamese steelmaker Asian Stainless Corp in 2009
  • completion of a zinc coated sheet investment in Mexico in 2009.


References

  1. History of POSCO
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