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Two Posco Units to Share Market Info, Sales Systems
12/11/2009 - Two overseas units of Posco—Posco Vietnam and Posco China—agree to build a system aimed at mutual cooperation in the procurement of raw materials, the utilization of sales and financing systems, and the sharing of market information.
Two overseas units of Posco—Posco Vietnam and Posco China—plan to establish strategic ties. The two affiliates signed a comprehensive memorandum of understanding in Sanya, Hainandao, China, on December 4; participants included Posco China President Kim Dong-jin and Posco Vietnam President Nam Sik.
The companies agreed to build a system aimed at mutual cooperation in the procurement of raw materials, the utilization of sales and financing systems, and the sharing of market information.
Posco says this is the first time that two of its units have formed a horizontal alliance, but expects the arrangement to become a new cooperative model for the future.
Posco Vietnam previously built a cold-rolled mill with an annual capacity of 1.2 million tons in Vung Tau Province near Ho Chi Minh City. The facility’s products will be sold to China and other Southeast Asian countries as well as in Vietnam.
Posco Vietnam previously built a cold-rolled mill with an annual capacity of 1.2 million tons in Vung Tau Province near Ho Chi Minh City. The facility’s products will be sold to China and other Southeast Asian countries as well as in Vietnam.
