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Posco to Continue Global Expansion
Jan. 11, 2010 Posco plans to build more facilities in its foreign units this year to fulfill its goal of advancing to broader overseas markets.
Posco plans to break ground in March on a new CGL (continuous galvanizing line) plant in India with an annual capacity of 400,000 tonnes. The company will also begin to lay the groundwork in Indonesia in September for an integral steelwork plant, which will be built in collaboration with the state-run local maker PT Krakatau Steel.
Launching overseas supply chain management (SCM) units and manufacturing facilities will also continue, according to Posco, which was operating 42 processing centers and distribution units in 12 countries as of 2009. The company plans to add more SCM units at its key overseas production bases, including four in the United States, India, and China this year.
The company expects to complete its second stainless steel plant at Posco-VHPC in June, giving it a sales presence in Southeast Asia. Its Turkish processing center in Nilufer, scheduled for completion in July, will help enhance sales service for automotive flats products.
Posco claims that if the businesses open as planned, its overseas processing centers will be expanded to 48 places in a total of 14 countries.
Last year, Posco opened a CGL plant in Mexico in August to establish an integral system from production to sales of auto sheets, and it completed a cold-rolling mill with a capacity of 1.2 million tonnes in Vietnam two months later. A 3-million-tonne hot-rolled mill and a 400,000-tonne CGL facility are to be built in Vietnam after 2012.