POSCO manufactures and sells steel rolled products and plates in South Korea. Its Steel segment offers cold rolled and hot rolled products, plates, wire rods, silicon steel sheets, and stainless steel products; and pig iron, billets, blooms, and slabs. The company’s Trading segment exports and imports iron and steel, raw materials for steel production, non-ferrous metals, chemicals, automotive parts, machinery and plant equipment, electronics products, agricultural commodities, and textiles; manufactures and sells textiles; and operates a department store. Its Construction segment constructs industrial plants, civil engineering projects, and commercial and residential buildings. The company’...
Founded in 1968
Peabody Energy Reportedly In Talks To Sell Minority Stake In Coal Mine To POSCO
Jun 22 15
Peabody Energy Corporation (NYSE:BTU) is in talks with POSCO (KOSE:A005490) about selling a minority interest in its North Goonyella coal mine in north Queensland. Street Talk understands Peabody has been in on-again, off-again discussions with POSCO for months but the two companies have thus far been unable to agree on price, Australian Financial Review reported. Credit Suisse and Barclays will act as the advisors for Peabody.
Daewoo & POSCO Reportedly Clash Over Sale Of Myanmar Gas Assets
Jun 10 15
According to Industry sources, Chief Executive Officer of Daewoo International Corp. (KOSE:A047050), Jeon Byeong-eal uploaded a message on the internal corporate board in May that he had sent an email to POSCO (KOSE:A005490)'s Chairman, Kwon Oh-joon expressing his objection to a plan to sell the POSCO's 51% stake in a gas field off the western coast of Myanmar. Daewoo International owned Myanmar gas field are also considered for sale and this has led to complaints at Daewoo International. "Talks about the sale of the gas field deepen the sense of deprivation of employees at Daewoo International,’’ a Daewoo insider said. There are rumors that Jeon Byeong-eal may resign as a protest to POSCO's asset restructuring plan.
POSCO Reports Unaudited Company and Consolidated Interim Earnings Results for the Quarter Ended March 31, 2015; Reports Impairment Loss for the Quarter Ended March 31, 2015
May 29 15
POSCO reported unaudited company and consolidated interim earnings results for the quarter ended March 31, 2015. For the quarter, the company reported revenues of KRW 6,787,607 million compared to KRW 7,363,850 million a year ago. Operating profit was KRW 621,707 million compared to KRW 517,704 million a year ago. Profit before income tax was KRW 732,203 million compared to KRW 272,138 million a year ago. Total comprehensive income was KRW 492,065 million compared to total comprehensive loss of KRW 117,331 million a year ago. Basic and diluted earnings per share were KRW 6,146 compared to KRW 1,296 a year ago. Net cash provided by operating activities were KRW 1,851,926 million compared to KRW 1,170,722 million a year ago. Acquisition of property, plant and equipment was KRW 429,430 million compared to KRW 520,111 million a year ago. Acquisition of intangible assets was KRW 9,478 million compared to KRW 5,165 million a year ago.
For the quarter, on consolidated basis, the company reported revenues of KRW 15,100,912 million compared to KRW 15,440,128 million a year ago. Operating profit was KRW 731,240 million compared to KRW 517,704 million a year ago. Profit before income tax was KRW 604,104 million compared to KRW 268,074 million a year ago. Total comprehensive income was KRW 118,083 million compared to total comprehensive loss of KRW 24,429 million a year ago. Basic and diluted earnings per share were KRW 4,131 compared to KRW 774 a year ago. Net cash provided by operating activities were KRW 1,373,621 million compared to net cash used by operating activities of KRW 502,134 million a year ago. Acquisition of property, plant and equipment was KRW 928,261 million compared to KRW 1,073,102 million a year ago. Acquisition of intangible assets was KRW 81,413 million compared to KRW 38,939 million a year ago. Profit attributable to owners of the controlling company was KRW 338,584 million compared to KRW 69,841 million a year ago.
For the quarter, Impairment loss on property, plant and equipment was KRW 10,002 million compared to KRW 1,753 million a year ago.