POSCO expands auto steel processing plant in Japan

Published: 16 Sep 2009 21:44:34 PST

SEOUL, Sept 17 - South Korea's POSCO, the world's No. 6 steelmaker, said on Thursday it had boosted capacity of an auto steel processing plant in Japan, as it seeks to expand market share in a high-end product segment and overseas sales.

POSCO, which already has auto sheet processing plants in Kyushu, where Toyota, Nissan and Daihatsu have production facilities, said the new plant added in Nagoya has an annual capacity of 150,000 tonnes.

The latest launch follows the opening of processing plants in India and Thailand early this year to supply auto and electronics steel in the region, and the firm is planning to open plants in China and Turkey.

POSCO, which earns around 70 percent of its revenue in the home market, expanded its customer base this year by signing a supply deal with Sony Corp for LCD television manufacturing outside Japan and an auto sheet sales deal with Toyota for production in Japan.