Siemens, Hyundai receive equipment order from POSCO

South Korean steel giant POSCO has signed a contract with a consortium consisting of Siemens and Hyundai Heavy Industries (HHI) for the construction of a new roughing mill for the No. 3 hot strip mill at its Gwangyang Works. As consortium leader, Siemens VAI Metals Technologies Limited, Christchurch, UK, a company of the Siemens Group Industrial Solutions and Services, will design and supply key equipment and the automation system for the roughing mill. Meanwhile, HHI is responsible for the manufacture of mechanical equipment for the mill. POSCO will pay approximately Euro 17 million to the consortium. The new roughing mill is scheduled to start up in October 2007.