Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
4
OpenAI in talks with Samsung to power AI features, report says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
South Korean military plans to launch new division for future warfare
-
7
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
8
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Teen smoking, drinking decline, while mental health, dietary habits worsen
POSCO to acquire Southeast Asia’s largest stainless steel maker
By 최희석Published : July 7, 2011 - 19:58
POSCO announced Thursday that it signed a share purchase agreement to acquire controlling stakes in the Thai stainless steel maker ThaiNox.
ThaiNox is Southeast Asia’s largest stainless steel maker and currently produces about 240,000 metric tons of cold rolled stainless steel on an annual basis.
POSCO currently holds a 15 percent stake in the company, and the latest deal will see the steel giant acquire the 60 percent held by ThaiNox chairman Prayudh Mahagitsiri and his family.
In addition, the Korean steelmaker will also buy up publicly traded shares at higher than market prices, the company said.
By Choi He-suk (cheesuk@heraldcorp.com)
ThaiNox is Southeast Asia’s largest stainless steel maker and currently produces about 240,000 metric tons of cold rolled stainless steel on an annual basis.
POSCO currently holds a 15 percent stake in the company, and the latest deal will see the steel giant acquire the 60 percent held by ThaiNox chairman Prayudh Mahagitsiri and his family.
In addition, the Korean steelmaker will also buy up publicly traded shares at higher than market prices, the company said.
By Choi He-suk (cheesuk@heraldcorp.com)
