South Korea's POSCO Puts $270 Million into Slumping Shipbuilding Unit

JOHANNESBURG--December 29, 2014--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Korean steelmaking firm POSCO (NYSE:PKX) (Pohang, South Korea) and POSCO Engineering & Construction plan to invest $270 million in industrial manufacturing unit, Plantec, to help it weather a slump in shipbuilding and other maritime industries, according to reports. Within this article: South Korea's Plantec is to receive a $270 million investment.