POSCO was the only overseas steel corporation to receive the ‘Excellent Value Improvement Award’ from Toyota Motors, the global automobile company, for the second year running. Toyota announced and awarded its excellent suppliers at the yearly Toyota global supplier convention in Nagoya. This year, 460 corporations, including 110 overseas suppliers, were invited to the event, with 90 suppliers worldwide rated excellent by Toyota in terms of quality, cost price and technical service, including POSCO.
POSCO was first invited to this event in 2013, when the sales of automotive materials supplied to the global Toyota factory saw a dramatic increase. POSCO’s selection as an excellent supplier for the second year running is highly significant, particularly as it is the only overseas steel corporation to receive the honour. For the past year, POSCO has supplied automotive materials to the Japanese headquarters of Toyota, as well as Toyota’s global production factories in China, Thailand, Indonesia and South Africa.
In 2015, POSCO plans to strengthen the partnership between the two companies, primarily through the provision of differentiated values based on active use of overseas infrastructure and networks, along with support for overseas production corporations, processing corporations and Technical Service Center (TSC). POSCO is currently focusing on strengthening its capacity in order to supply TWIP steel rated above 1.2GPa to Toyota’s global factories.
