POSCO signs agreement with Concast AG

POSCO signs agreement with Concast AG

South Korean steel producer Pohang Iron and Steel (POSCO) signed an agreement with Concast AG, a member of Germany's SMS Demag, for a new six-strand billet caster with Convex Technology. The new caster, which will replace the existing No.1 caster, will be operational by the end of 2006. It will be used for wire rod operations at POSCO's Pohang Works in South Korea. The existing caster produces 510'000 tons of billets per annum, while the annual production of the new machine will be 690'000 tons.