POSCO Shuns Mega Steel Investment to Go Downstream with Lithium, Nickel, Fuel Cells and Clean Coal
JOHANNESBURG--March 19, 2014--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--A new chief executive officer and chairman has brought a new strategy to POSCO (NYSE:PKX) (Seoul, South Korea), the world's fifth-largest steel maker. The company will sell non-core assets and list some affiliates to strengthen its balance sheet, and will hold back on any major new investments, said Kwon Oh-joon, who previously was the company's chief technology officer.
