Posco to expand electrical steel capacity

Posco to expand electrical steel capacity

Korean giant steel producer POSCO is planning to launch a major project for combining the manufacturing facilities of electrical steel at its Phang Works during the first quarter of 2003. The construction is scheduled to last for three months causing a cut in the production within this period. The total loss of production will be 10'000 tons per month totalling to a 30'000 tons for the entire quarter. POSCO's sales agent POSTEEL is reported to plan importing 10'000 tons of electrical steel from Japanese steelmaker Nippon Steel Co. in order to cover a possible shortage. The POSCO officials state that the capacity will be expanded enough to cover the lack of 3-month production following the completion of construction process, increasing the output by 90-100'000 tons per year. Korean POSCO produces hot and cold rolled sheet, plate, wire rod, and stainless steel as well as electrical steel.