More Automotive Steel Sheets
POSCO, the nation’s No. 1 steel maker, is focusing on automotive steel sheet business. The company established automotive steel sheet processing plants in Chongqing and Chengdu of China and Rayong of Thailand, and built additional automotive steel sheet production lines in the Gwangyang steel mill on May 31.
The company has decided to concentrate on automotive steel sheets, as the shipbuilding and shipping industry is in long-term decline and sales of its flagship product, ship plate, are dull.
An automotive steel sheet, one of lucrative steel products, can be produced by only 20 out of 800 steel companies around the world. POSCO sold 8.7 million tons of automotive steel sheets last year, accounting for 10 percent of the combined supplies in the world. All global top 15 automakers use sheet steel products.
POSCO has expanded automotive steel sheet business through the extension and rationalization of advanced automotive steel sheet production and processing plants at home and abroad, and completed a capacity rationalization program for the No. 4 cold-rolled sheet steel plant in Gwangyang whose capacity is Korea's largest at 2.2 million tons a year on the 31st.