POSCO, South Korea’s leading steelmaker, said Thursday that it has signed a steel supply contract with a European home appliance maker, a deal that will help the steelmaker expand its presence there.

Under the deal with Gorenje, the largest Slovenian manufacturer of home appliances, POSCO will supply steels, including cold-rolled steel plates used for the production of refrigerators and washing machines, over the next three years.

POSCO did not give specifics on how many steel plates it will supply to the European home appliance maker.

The steelmaker said it will seek to form similar deals with other European home appliance makers to further boost its market share in the region.

Gorenje is one of the five largest manufacturers of home appliances in Europe. In addition to household appliances, the company manufactures kitchen and bathroom furniture. 

(Yonhap News)