POSCO completes construction of Hydroforming Plant
On April 15, 2005, South Korean steel producer POSCO completed construction of its Hydroforming Plant for the integrated support system for automotive steel plates. The Won 45 billion (around $44.8 million) plant has an annual production capacity of 1 million units. This technology is expected to greatly improve the efficiency of automotive companies. POSCO will supply around 100'000 hydroforming parts to Renault Samsung Motors, GM DAEWOO Auto & Technology, Ssangyong Motor and China's Chogqing Chicheng until the end of this year.