Posco Joins Toyota Top Supplier Group, Challenging Nippon Steel
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Posco became the first non-Japanese steelmaker to enter a group of Toyota Motor Corp.'s closest suppliers, rivaling domestic auto-sheet providers, including Nippon Steel Corp.
The Japanese unit of the South Korea’s biggest steelmaker was formally accepted into the Kyohokai, whose 222 members are the top 1 percent of the carmaker's suppliers, group spokesman Nakaji Honda said. Posco started supplies to the Japanese factories of Asia’s No. 1 carmaker in 2009 and its plants in Indonesia and India in 2003.