Posco mulls Thainox

New upstream stainless capacity commissioned at its Pohang works in Korea and that planned for at its ventures in China have apparently persuaded Posco to ponder the possibilities that acquiring Thailand’s only stainless CR producer, Thainox Steel, might present

Thainox, majority owned by Arcelor, was battered by the collapse of the Thai baht in the mid 1990s but by June last year Thailand’s economic recovery and the country’s growing demand for stainless steel had led the Europeans to begin talking of selling part of their stake.

For Posco, acquiring Thainox would give the Korean mill another outlet for hot stainless bands that it will...

Published

November 27, 2003

11:16 GMT

Tokyo