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Corporate | Posco adds steel plants in India, Thailand

Corporate | Posco adds steel plants in India, Thailand
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First Published: Fri, Apr 24 2009. 12 09 AM IST
Updated: Fri, Apr 24 2009. 12 09 AM IST
Seoul: Asia’s third biggest steel maker, Posco, has completed processing plants in Thailand and India to secure sales from auto makers and electronics companies amid weak demand in the global recession.
The two plants can each process 120,000 tonne of steel a year, the company said in an emailed statement on Thursday.
Posco, which cut output for the first time in its 41-year history, expanded its customer base this year to include Sony Corp. and began supplying steel to Toyota Motor Corp.’s plants in Japan to boost demand.
The Thai plant in Wellgrow, near Bangkok, will supply steel to Japanese auto makers and South Korean electronics firms, Posco said. The Indian plant is located in Maharashtra, where several global car makers including Tata Motors Ltd have plants.
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Bloomberg
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First Published: Fri, Apr 24 2009. 12 09 AM IST