QUOTE AND NEWS
Market Intelligence Center  May 20  Comment 
For a hedged play on POSCO (PKX) MarketIntelligenceCenter.com’s patented trade-picking algorithms recommend the Aug. '15 $55.00 covered call for a net debit in the $53.44 area. That is also the break-even stock price for the covered call. This...
The Economic Times  May 19  Comment 
Carmaker Hyundai wants to set up a third automobile plant in India and diversify into construction and railway sectors in India.
Reuters  May 17  Comment 
POSCO is set to sell a stake of at least 30 percent in unlisted POSCO Engineering & Construction Co Ltd for around 1 trillion won ($920 million) to Saudi Arabia's Public Investment...
WA Business News  May 14  Comment 
South Korean steel giant Posco has sold its 15.2 per cent stake in Sandfire Resources for $129 million.
Market Intelligence Center  May 5  Comment 
POSCO (PKX) traded between $60.12 and $60.68 before closing at $60.21 Monday and presents some attractive trading opportunities today. MarketIntelligenceCenter.com’s patented algorithms selected a Aug. '15 $60.00 covered call for a net debit of...
Reuters  Apr 21  Comment 
After its first-quarter profit jumped 20 percent on lower iron ore costs, South Korean steelmaker POSCO warned the current quarter will be tough as Chinese and Russian rivals flood the regional steel market amid weak domestic sales.
The Times of India  Apr 20  Comment 
Talks are on between South Korean steel major Posco and state-run domestic giant SAIL to set up an integrated steel plant, the government on Monday said.
The Times of India  Apr 10  Comment 
The Centre has rejected the Odisha government's request to consider its recommendation of granting prospecting license (PL) over Khandadhar iron ore reserve in favour of Posco India, which proposed to set up a Rs 52,000 crore steel facility near...
The Hindu Business Line  Apr 9  Comment 
The Centre has rejected the Odisha government’s request to consider its recommendation of granting prospecting licence (PL) over Khandadhar iron ore reserve in favour of Posco India which proposed...




 

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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