POSCO Expands to Vietnam
Jul 21, 2010. POSCO, the world’s third-largest steelmaker said Wednesday that it will enlarge its capacity from 85,000 tons annually through 235,000 tons in 2013 to eventually 285,000 tons in 2014.
It forecast that demand for steel in Vietnam is likely to rise about 8.7 percent per year until 2020.
In addition, the company will use the second factory of POSCO VHPC (Vietnam Ho Chi Minh Processing Center), completed last week, as a distribution center for other Southeast Asian nations as well as Vietnam.
POSCO has also been in talks to take over Thainox Stainless, Southeast Asia’s largest stainless steel producer, but the process has been stalled due to political instability in Thailand.
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