POSCO increased production, sales&income in February

POSCO increased production, sales&income in February

February 2003 has been a month of records for the Korean giant steel producer POSCO with significant increases, particularly in sales, in operating income and crude steel production. Although economic conditions were not stable both in domestic and international markets, POSCO increased for the first time its sales to 1.06 trillion Won (around $854 billion) with an excess of 91.6 billion Won when compared to sales target. Production recorded for last month was 2'151'000 tons and operating income was 237 billion Won ($191 million), respectively 49'000 tons and 67.6 billion Won more than the previous targets. Consequently, the cumulative results for the first two months of 2003 for crude steel production was 4'512'000 tons, sales were 2.12 trillion Won where operating income was 512.6 billion Won. On the other hand, inventory levels has seen the historic low level in February 2003 with 393'000 tons.