The sales volume of automotive steel processed at Posco’s plant in Suzhou, China, has surpassed the 5 million ton mark, riding on the fast-growing car market in the country, the company said Wednesday.
The plant, located west of Shanghai, known as China’s auto cluster, has reached the 5-million-ton mark faster than any other plants operated by Posco around the world, it added in a statement.
Workers at Posco Suzhou plant celebrate the plant surpassing 5 million ton mark of selling automotive steel on Wednesday. (Posco)
Starting its operation in 2004, Posco’s auto steel plant has gradually increased its production capacity to 470,000 tons a year. The South Korean steelmaker’s clients include Shanghai Tractor and Internal Combustion Engine, Geely and Shanghai Volkswagen.
“The collaboration between the two countries has strengthened since 2005 when the Suzhou plant started to supply 760 tons (of auto steel) and 100,000 tons this year,” said Zhu Minhua, vice general manager of Shanghai Tractor at a ceremony held to mark the plant’s achievement on Wednesday.
“Posco is a strategic supplier to Shanghai Tractor and a partner for joint development,” he said.
Posco currently operates 13 steel processing plants in China.
By Cho Chung-un (email@example.com