Posco, Japanese firms to make needle cokePosco said yesterday that its chemical unit and two Japanese firms have agreed to set up a joint venture in Korea to make so-called needle coke used in electrodes.
The venture will be set up in Gwangyang, South Jeolla, 423 kilometers south of Seoul, and will produce 100,000 tons of needle coke annually when the construction of the plant is completed in 2014, Posco said. The two Japanese firms are Mitsubishi Chemical Holdings Corp. and Mitsubishi Corp., it said.
Posco did not give specifics on the deal. Needle coke, produced from coal tar pitch, is used in the production of electrodes for the steel and aluminum industries.
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