QUOTE AND NEWS
The Times of India  6 hrs ago  Comment 
The government has again delayed a decision on permitting Posco to mine iron ore, seeking more clarifications from Odisha where the South Korean company has waited nine years to set up a $12 billion steel plant.
Benzinga  Oct 16  Comment 
Chesapeake Energy (NYSE: CHK) shares moved up 13.11% to $20.10. The volume of Chesapeake Energy shares traded was 435% higher than normal. Chesapeake Energy announced the sale of Southern Marcellus and Utica Shale assets for $5.375...
Reuters  Sep 15  Comment 
South Korean steelmaker POSCO is considering selling part of its stake in construction unit POSCO Engineering & Construction to an unidentified Saudi Arabian fund, a POSCO official...
Benzinga  Sep 12  Comment 
Conversant (NASDAQ: CNVR) shares reached a new 52-week high of $34.995 after Alliance Data Systems (NYSE: ADS) announced its plans to buy Conversant for $35 per share. Marathon Patent Group (NASDAQ: MARA) shares rose 2.23% to reach a new 52-week...
Market Intelligence Center  Sep 12  Comment 
After Thursday’s trading in POSCO (PKX) the option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center uncovered a trade that offers a 3.24% return, or 16.67% annualized (for comparison purposes...
WA Business News  Sep 11  Comment 
Aurizon gains POSCO, AMCI port support
The Australian  Sep 11  Comment 
US investor AMCI along with Korean steel giant Posco has joined China’s Baosteel to back new infrastructure.
The Australian  Sep 10  Comment 
KOREAN steel giant Posco and private equity firm AMCI have joined China’s Baosteel Resources to back a new port and rail for a $7 billion iron ore project.
Market Intelligence Center  Sep 9  Comment 
POSCO (PKX) presents a trading opportunity that offers a 2.54% return in just 164 days. A covered call on POSCO at the $80.00 level expiring on Feb. '15 offers an assigned return rate of 2.54% or 5.65% annualized. This trade offers 6.70%...
SeekingAlpha  Sep 2  Comment 
By Stephen Tang: During the month of August 2014 there have been negative media opinions about FuelCell Energy (NASDAQ:FCEL) along with an incredibly biased article that mirrored the true intentions of a disclosed short seller of their stock. I am...




 

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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