S Korea’s Posco buys 10% stake in ferroalloy maker Dongbu

摘要

SouthtKorea’sttoptsteelmakertPoscothastnagreedttotbuytat10%tstake,tworthtWontn98.1tbilliont($85.1tmillion),tintDongbutnMetal,tthetcountry’stlargesttproducertoftnferroalloytwhichtistusedtintsteelmaking,tnthetcompaniestsaidtFriday.tPoscotwilltnpurchasetthetstaketfromtDongbutHiTek,tatntechnologytarmtoftthetDongbutGrouptwhichtnalsothastDongbutSteeltundertitstwing.tIntnOctober,tDongbutHiTektalsotagreedttotselltnat5%tstaketintDongbutMetalttotTaiwan’stnChinatSteeltCorp.tfortWont47.7tbillion.tnWhentbothtdealstaretcompletedt--texpectedtnwithintthistyeart--tDongbutHiTek’ststaketintnDongbutMetaltwilltbetreducedttot31.28%,tnfromt46.28%tcurrently.tDongbutGroup’sttwonothertunits,tDongbutInvestmenttandtDongbunFinetChemicals,thavetstakestoft39.5%tandtn10%trespectivelytintDongbutMetal,twithtthetnresttheldtbytindividuals.tPoscotandtDongbutnMetaltsaidtthetstaketsaletwilltdeepentntheirtpartnership.tIntJulyt2009,tPoscotandtnDongbutMetaltformedtatWont220tbilliontnjointtventure,tnamedtPos-HiMetal,ttotbuildtnatplanttthattwilltproducet75,000tmt/yeartnofthigh-qualitytferromanganese,twhichtistnusedtfortmakingtplatestfortdoorstandtothertnautotbodytparts.tPoscotholdstat65%tstaketnintthetventure,twhiletDongbutMetaltcontrolstnthetremainingt35%.tThetferromanganesetnplanttistundertconstructiontattPosco’stnGwangyangtcomplextontthetcountry’stsouth-nerntcoasttandtistscheduledttotcometonlinetnintSeptembert2011.