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Posco, Metinvest Sign MOU to Seek New Business Opportunities
10/13/2009 - Chairman Joon-yang Chung signs an MOU for cooperation with Metinvest Holdings, Ukraine’s largest steel company, as part of Posco’s plan to seek new business opportunities in the areas of raw materials development and the steel industry.
Chairman Joon-yang Chung recently signed an MOU for cooperation with Metinvest Holdings, Ukraine’s largest steel company, as part of Posco’s plan to seek new business opportunities in the areas of raw materials development and the steel industry.
The MOU was signed by Senior Vice President Sung-Kwan Baek and CEO Igor Syry of Metinvest Holdings, in the presence of Chairman Chung.
According to the MOU, both companies will cooperate to seek business opportunities in the steel industry and in mining across Eastern Europe and the CIS regions, including Ukraine, as well as active exchange of technological and management information.
By signing the MOU, Posco says that it expects to establish a base for entering into high-potential Eastern and Western European markets by collaborating in the upstream steel manufacturing processes with Ukraine, a country with large reserves of iron ore and coal.
Metinvest Holdings operates three steel works and steel pipe factories, producing 26% of the country’s total crude steel production. It also produces 50% of Ukraine’s total iron-ore production from its own mines.
The MOU was signed by Senior Vice President Sung-Kwan Baek and CEO Igor Syry of Metinvest Holdings, in the presence of Chairman Chung.
According to the MOU, both companies will cooperate to seek business opportunities in the steel industry and in mining across Eastern Europe and the CIS regions, including Ukraine, as well as active exchange of technological and management information.
By signing the MOU, Posco says that it expects to establish a base for entering into high-potential Eastern and Western European markets by collaborating in the upstream steel manufacturing processes with Ukraine, a country with large reserves of iron ore and coal.
Metinvest Holdings operates three steel works and steel pipe factories, producing 26% of the country’s total crude steel production. It also produces 50% of Ukraine’s total iron-ore production from its own mines.
