Huabei
Apr 2, 2010
Facility to be sales hubin growing Huabei market
POSCO held a groundbreaking ceremony for a second POSCO-CTPC plant within the Tianjin Economic-Technologic Development Area (TEDA) on March 30. The automobile sheets facility will have an annual capacity of 120,000 tons.
Participants of the ceremony included POSCO Senior Vice President Oh In-hwan, as well as officials from TEDA and other client companies of the Chinese unit of POSCO.
``This new facility, once in operation, will enable us to supply high-quality automobile sheets and provide logistic services,`` Oh said in a congratulatory speech. ``I sincerely hope the plant will develop into contributing to the local economy with encouragement and interest from the community here.``
Currently, Chinese and other global makers of automobiles and car parts operate in Tianjin and the Huabei region, making TEDA emerge as a pivotal hub for the auto industry.
In 1995, POSCO completed the first POSCO-CTPC plant in Tianjin, which also has an annual capacity of 120,000 tons. It is now supplying steel products to major electronics companies such as LG and Daewoo.
Products from the second plant will be provided for carmakers including Toyota, Tianjin Faw Xiali Automobile and Great Wall Motors.
The new plant will become a hub for sales expansion in the Huabei region by meeting growing demand for automobile sheets, POSCO expects.
Source: POSCO
