Posco to look at selling stainless division ?
“We are considering spinning off our stainless business in line with the global trend,” according to a local report in the Maeil Business Newspaper , quoting an unnamed POSCO executive.
This follows recent news that POSCO are looking to buy Thainox one of South East Asia’s biggest producers of stainless steel.
Arcelor Mittal launched Aperam earlier this year in order to separate the stainless division from the rest of the group, Thyssen Krupp are following a similar route and are believed to be at an advanced stage. Following recent falls in prices of stainless steel and the large amounts of investments required POSCO seem to feel this is a way forward possibly including Thainox to consolidate the market.