Pohang Coated Steel targets sales worth $626 million

Pohang Coated Steel targets sales worth $626 million

Pohang Coated Steel, a subsidiary of South Korean steel giant POSCO, announced a 2005 sales goal of Won 646 billion ($626 million). The figure indicates a targeted increase of 24.6% when compared to 2004. The company expects its 2005 operating income to be Won 25.1 billion ($24.3 million), which is not a significant change compared to the previous year. Pohang Coated also expects production of galvanized steel sheets, color sheets and aluminized steel sheets to increase to 912'000 tons, up 45.9% from 2004.