posco

A spokesman for steelmaker Posco said the Korean group expects to join forces with the Japanese consortium.

As well as planning to expand into shipbuilding, POSCO is looking out for opportunities to acquire steelmakers in Asia.

The long-delayed proposed plant of POSCO in India's eastern state of Orissa has been stalled by protests and green probes.

POSCO did not immediately comment on the recommendation.

Posco will receive 9. 8 million tons of ore a year from the mine, about a fifth of its annual needs, it said.

Posco said the two would not talk about merging , but the Korean company's shares rose 2. 04 per cent to Won325, 000 on such expectations .

Posco said the strong results had prompted it to raise its operating profit target for this year by 16 per cent to Won6, 600bn.

The Finex technology produces only 5 per cent of Posco's steel, but the company is working on building larger capacity facilities.

A forest panel said permits for POSCO's planned $12 billion steel mill in the eastern state of Orissa should be temporarily withdrawn.

The POSCO project's progress is also being monitored by the office of pro-reform Prime Minister Manmohan Singh.

The latest hurdle is an Environment Ministry report due this month on the impact of the Posco project.

The Australian Premium Iron purchase will boost Posco's iron ore self-sufficiency ratio to 34 percent from 18 percent, the company said.

South Korea's Posco, Asia's third-largest steelmaker, yesterday said it will probably accept the Rio accord as a benchmark price.

Posco is also conducting a feasibility study on building an integrated steel mill in Vietnam, upon the Vietnamese government's request.

The reserve in Pilbara may produce 40 million metric tons a year starting 2014, it said.

Posco is now looking to install Finex at plants in Vietnam, India and perhaps even China.

South Korea's Posco and London-listed Vedanta Resources PLC have run into problems over land acquisitions and environmental issues.

Korea's Posco, the world's fourth-largest steelmaker, posted a more than fourfold jump in first-quarter profit on Tuesday.

The plant in South Kalimantan completes plant development in Cilegon, West Java, done in cooperation with Posco from South Korea.

Yesterday, Posco, the South Korean steelmaker, said its IPO would next month raise up to Won1, 080bn ($912m).

"The ties with Nippon Steel will stabilise the purchasing process of iron ore. " POSCO said in a statement.

However, analysts expect Posco's earnings momentum to weaken as higher raw material prices begin to affect its bottom line.

Nippon Steel, Asia's leading steelmaker, is Posco's strategic partner through cross-shareholdings.

This economy of sustenance is being uprooted by means of violence in order to enable POSCO to export our iron-ore and steel.

Furthermore, Posco is considering expanding into Vietnam.

Advancing into China, the world's biggest steel market, was "inevitable" , said Lee Dong-hee, Posco's chief financial officer.

Technology characteristics of cold rolled sheet unit of Benxi Steel Posco Cold Rolled Co. , Ltd.

South Korea's Posco this week said it expects global steel demand to recover to 2008 levels next year, thanks in part to demand from China.

'We should prepare for the risk of a deep recession, ' said Ku-Taek Lee, Posco's chief executive officer.

Posco has raised its benchmark hot- rolled coil prices by more than 60 per cent this year to cover higher raw material costs .

"In building a ship, the less you weld the less you spend, " says Lee Ku-taek, POSCO's chief executive.

They would prefer POSCO to concentrate on buying access to raw materials, as its rivals are.

He also led an economic delegation to Seoul in 2002, visiting -Samsung Electronics, Hyundai Motor and Posco Steel.

South Korea's POSCO, the world's fifth-largest steel firm, has sought stakes in ore mines in Brazil and Australia.

POSCO's HR coils, too, are put on sale at less than USD 400 per tonne FOB in export markets of Asia.

Posco said its iron-ore costs rose 8%, and the steelmaker expects prices to continue to climb.

Posco is having a harder time because of declining rainfall in the Jagatsinghpur district, where it's planning its mill.

Separately, Posco said today in a regulatory filing it will pay 2, 500 won as mid-year dividend.

Some investors, who are sceptical about POSCO's bid for DSME, agree.

Posco, which is 62 per cent-owned by foreign investors, is seen as a prime target.

Posco will buy its stake from American Metal and Coal, whose holding will reduce to 25. 5 percent.

Posco is already building a $500m cold-rolled steel plant in Vung Tau with an annual capacity of 1. 2m tonnes.

POSCO has controlling stakes in 20 domestic companies and 43 foreign firms.

9 and 12. 9 engine fasteners imported materials mainly come from Kobe, Japan, the Japanese Nippon Steel, Posco and other Korean companies.

POSCO, a South Korean firm that is the world's fourth-largest steelmaker, likes to prove its critics wrong.

Steel giant POSCO fell 6 percent.

POSCO's TMBP export prices are lower than what the Japanese steelmakers charge for their TMBP exports to Thailand.

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