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| NSC, Posco To Execute 200,000 TPY Mutual Semis Supplies In FY 2007 |
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Japan's integrated steel giant Nippon Steel Corp (NSC) and its South Korean counterpart Posco are in agreement on mutual 200,000 tpy of supplies in semifinished steel products in fiscal 2007 (April 2007-March 2008) as part of an enhanced strategic alliance between the two companies. In this connection, NSC and Posco are scheduled to execute repairs on a total of six blast furnaces at their works for five years of fiscal 2007-fiscal 2011. Besides the mutual supplies of steel semis, the terms of an enhanced strategic alliance provide for more cross-shareholdings of 2% or so between the two companies and joint action on dry dust recycling. At present, NSC owns 3.32% of shares in Posco, while Posco holds 2.17% of shares in NSC. The basic frame of joint action is already agreed between the two companies on the installation and usage of NSC-type dry dust recycling facilities in Posco's Pohang and Kwangyang works. Both companies are supposed to conduct a speedy study on definite measures. |
| last modified : Thu 26 Oct, 2006 [10:43] |
