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Posco Opens New Processing Center in China
Jul. 30, 2010 Posco has completed the construction of Posco-CLPC, the new processing center at the EU Economic Development Zone in Shenyang, China, and started operations the same day. The new facility will process 170,000 tonnes of steel annually.
Posco-CLPC is equipped with a slitter, a shear, a blanking line, and a mini-shear.
The opening ceremony included Posco employees and the company’s Senior Executive Vice President, Shin Jung-suk; Shenyang city officials including its vice mayor; and employees from the steelmaker's partner companies, such as FAW-Volkswagen, FAW-Car, and HAFEI.
''We will do our part to make the three northeastern provinces of China, which include Shenyang, a new hub for the global automotive industry,'' Jung-suk said.
Posco notes that Shenyang plans to grow its auto industry to produce 1 million units of vehicles and have 100 auto part makers by 2012. It aims to post 100 billion yuan ($14.79 billion) in revenue through the sales of the vehicles, according to the steelmaker.
Posco expects the new processing center to help shorten its supply chain in China. Including Posco-CLPC, the company now has 14 processing centers in that country.