POSCO to boost sheet production

POSCO to boost sheet production

South Korean steel giant POSCO announced plans to increase its annual production of steel sheets used in the automobile industry to 6.5 million tons by 2008. The capacity will be increased with the addition of new production lines at POSCO's Gwangyang mill. In line with the project, the capacity will be increased to 5.8 million tons by 2007 from the current 4.3 million tons, and then to 6.5 million tons by 2008. Meanwhile, the company has already started to build new facilities to increase its annual tailor welded blank capacity to 5.5 million units by 2006.