posco- spon adr (PKX) Key Developments
POSCO and KB Financial Group Sign Memorandum of Understanding
Aug 21 15
POSCO and KB Financial Group have signed a memorandum of understanding for financial cooperation to strengthen their strategic partnership. With this agreement, POSCO and KB Financial Group will construct cooperative relationship through expanding support for financial and non-financial areas, establishing joint committee and exchanging information on strategic businesses and more based on their accumulated experiences and know-hows. According to the agreement, it is expected that POSCO will not only receive financial support and advice from KB Financial Group but also draw its investment into feasible businesses in the future. In addition, POSCO employees will be able to enjoy various financial benefits in credit loan, asset management consulting, retirement plan and more. The two parties plan to expand their partnership into other areas other than finances.
Koch Interested In Acquiring Arrium's Moly-Cop
Aug 19 15
Koch Industries, Inc. is one of several international trade buyers looking at Moly-Cop division from Arrium Limited (ASX:ARI). Other potential acquirers include POSCO (KOSE:A005490), Gerdau S.A. (BOVESPA:GGBR4), FLSmidth & Co. A/S (CPSE:FLS) and Metso Corporation (HLSE:MEO1V).
Shree Uttam Steel & Power Limited Signs a Joint Venture Agreement with POSCO to Set Up Steel Plant in Maharashtra, India
Aug 12 15
Shree Uttam Steel & Power Limited has signed a joint venture (JV) agreement with POSCO to set up a steel plant with annual production of 1.5 million tons at Satarda village in Maharashtra, India. The JV will allow Uttam Galva to develop an integrated steel manufacturing facility in line with the Indian Government's 'Make in India' initiative. In addition, the JV will increase Posco's expansion plans in India.
Shree Uttam Steel and Power Ltd and Posco Korea Sign a Memorandum of Agreement (MoA) to Set Up an Integrated Steel Manufacturing Facility Under a Joint Venture Arrangement in India
Aug 11 15
Shree Uttam Steel and Power Ltd. and Posco Korea signed a memorandum of agreement (MoA) to set up an integrated steel manufacturing facility under a joint venture arrangement in India. The MoA is the first step toward establishing a joint venture under which the integrated steel plant at Satarda, Maharashtra, will eventually be set up, it added. The two companies began discussions to set up an integrated steel plant in Maharashtra in 2013. The plant will be set up in two phases.
POSCO to Invest USD 997 Million in Chinese Steel-Manufacturing Joint Ventures
Aug 10 15
POSCO is planning to invest a total of CNY 6.2 billion (USD 996.8 million) in two new steel-making joint ventures (JVs) in China. POSCO is planning to set up the JVs with China's Chongqing Iron and Steel Company (CISC) to manufacture zinc-coated plates as well as cold-rolled plates. Based in China's southwestern city of Chongqing, the new JV firms will have a combined production capacity of 2.4 million tonnes per annum. POSCO is expected to hold a majority stake of 51% in the zinc-coated steel plate JV, while CISC will hold the majority stake in the cold-rolled plate JV.