South Korean steelmaker Posco has announced this week it has merged two Mexican units in an attempt to consolidate its operations in the country.
As a result of the merger, Posco’s assets in Mexico, including a local distribution center and a human resources company, will now be part of Posco America.
Posco said the move is aligned with the company’s efforts to reform and restructure its operations through the sale of assets as well as through the consolidation of businesses. Posco expects to sell minor stakes in 19 companies, including international businesses.