Tag: Posco

POSCO began operations of Southeast Asia’s first integrated steel works with the lighting of the 3 million ton furnace at Krakatau POSCO for the first time at a ceremony in Cilegon, Indonesia on 23 December 2013.

Last year, POSCO-Thainox announced an ambitious business plan to increase annual capacity for cold-rolled stainless steel over the next four years from 200,000 tons to 300,000 tons. POSCO has contracted GE’s Energy Management Services business to upgrade their facilities with minimal interruption to their current production lines.

POSCO signed an MOA with Chongqing Iron and Steel Company, a state-run company operated by China’s city of Chongqing, to construct an annual 3Mt-scale FINEX-integrated steelworks.

Russia’s state-run steel company Amurmetal will be operated by POSCO. POSCO signed an MoU with Russia’s state development bank VEB in September to entrust and manage Amurmetal. VEB owns 100% of shares of Amurmetal.

Mr Joon-Yang Jung, POSCO’s CEO and Chairperson, was awarded “Steelmaker of the Year” prize, the most privileged prize for the industry. The awarding ceremony was held at AISTech 2013, an international steelmakers’ conference hosted by the Association for Iron & Steel Technology in Pittsburgh, US.

Korean steelmaker POSCO has planned to keep the April 2013 list prices of austenitic and ferritic stainless hot rolled coil and cold rolled coil unchanged. After the announcement, POSCO’s April list of prices remained at KRW 3.

FuelCell Energy, Inc. has announced the execution of a series of strategic initiatives with its South Korean partner, POSCO Energy, to expand the market for stationary fuel cell power plants in Asia The agreement includes a license agreement for POSCO Energy to manufacture Direct FuelCell® (DFC®) power plants in South Korea and sell throughout Asia.

An explosion occurred on 19 August 2011, at the No. 2 blast furnace at POSCO's Gwangyang Steelworks.

POSCO is going ahead with its ferrochrome JV plans with the IMFA Group, which is scheduled to operational by the end of the current quarter. POSCO will have a 24% stake for USD 5 million in a subsidiary of the Indian Metals & Ferro Alloys Limited

POSCO is now the world’s No. 2 stainless steel producer, after expanding the capacity of its Chinese stainless steel JV. The company also intends to list the JV in Hong Kong or Shanghai after 2013. Zhangjiagang Pohang Stainless Steel (ZPSS) has completed construction on additional facilities