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POSCO to Shift Steel Operations to New Holding Company
12/13/2021 - South Korean steelmaker POSCO announced last week that it plans to spin off its steelmaking arm into a separate, unlisted holding company, POSCO Holdings Inc.
According to an investor presentation on the company’s website, the vertical spinoff will aid POSCO’s steel division in its ongoing transition to a carbon-neutral production model and better position its non-steel-related business areas, including hydrogen, lithium and rechargeable battery materials, for future growth.
If approved by shareholders, the spinoff will be formalized 1 March 2022.
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