POSCO Steps Up Thai Operations
By Jane Han
Staff Reporter
POSCO has recently been accelerating its sales network expansion in Thailand to fortify itself as a top steel sheet provider of leading global carmakers and home appliance producers based in the Southeast Asian country.
Often dubbed ``Asia's Detroit'' for its booming auto industry, Thailand currently houses nine automakers, along with some 2,000 parts companies, and the world's fourth largest steel-maker is getting aggressive to step up in this growing market.
The company is operating two plants in Thailand as part of the country's top 10 steel suppliers and a third plant is being considered, which will move the firm up to a top five position in terms of production capacity, said a POSCO Thailand official.
The steel producer is a supplier for Toyota, Isuzu, Honda, Mitsubishi and other Japanese makers in the Thai region. Moreover, 30 percent of products purchased by Nissan and the Auto Alliance Thailand (AAT), comprised of Mazda and Ford, come from POSCO.
To further accommodate customers' needs, Korea's largest steel group is devising ways to provide a total solution, including product quality service and technological assistance.
Meanwhile, in the neighboring country of Vietnam, a building project for a processing center is well underway.
Construction broke ground June 15, slated for completion next February. It is expected to produce an annual 100,000 metric tons of steel plates and will be channeled to area businesses in Southeast Asia.