Posco’s auto steel-plate plant opening draws crowd in China

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Posco’s auto steel-plate plant opening draws crowd in China

Posco, Korea’s largest steelmaker, said yesterday it has completed construction of an auto steel-plate plant in China.

Yesterday’s opening ceremony of the new plant was attended by 300 people, including Posco CEO Chung Joon-yang, Chinese government officials and clients, including Toyota executives.

The company said the steel-sheet plant located in Foshan, Guangdong Province is capable of producing 450,000 tons of galvanized steel plates annually.

The steel plates will be sold to automakers that have operations in China. Among them are Toyota, Honda, Nissan, General Motors, Hyundai Motor and Kia Motors.

The company said the completion of the plant is significant in that it has paved the way for the Korean steelmaker to secure three entire procedure channels for the steel business - production, processing and sale - in China.

It said the new plant will help the steelmaker to quickly meet growing demand.

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