Verified Document

Posco, Originally Called Pohang Iron Research Paper

Related Topics:

The crisis compelled the company to accept the government's offer of privatization and so, in 2001, POSCO became a privatized company. Enduring several scandals and plunges, POSCO also managed to lift itself up and continue through its challenges through the late 1990s and into the millennium. Its success came about by eliminating ventures in other fields and investing only in projects that were in line with its objectives as well as by merging subsidiaries. In 1999, therefore, it merged Pohang Steel Industries and Pohang Coated Steel into Pohang Steel Co. As well as starting three machinery units in the POSCO Machinery Company. A few years earlier too (in 1994), its first two subsidiaries were created - POSTEEL and POSTGRADE.

In order to cut prices and make their organization more lean and effective, they also formed partnerships with former competitors such as with Nippon Steel and China's Baoshan Iron & Steel Works in 2001.

Structure of POSCO.

POSCO is divided into two main groups,

1.POSTEEL -- that manages domestic sales and services

2. POSTGRADE - that deals with international trading of products.

Aside from these two units, POSCO has a further more than 24 subsidiaries (About.com).

Ever since the millennium the firm has and continues to expand in overseas ventures and has sunk its investment in foreign automotive and appliance production.

In 2010, POSCO had produced 35.4 million tonnes of crude steel becoming the world's third largest steel maker. Its steel mills are headquartered in South Korea, in Pohang and Gwangyang, and it also has merged with U.S. Steel, USS-POSCO, which is located in Pittsburg, California. Its key rivals include Tata Steel, Nippon Steel, the JFE group, and Bhushan steel.

Products

POSCO manufactures...

( http://metals.about.com/od/suppliersaz/a/Company-Profile-Posco.htm)
POSCO operates four major steel producing technologies in order to produce its work. These are: Finex (the cheapest method which produces molten iron directly from fine iron ore and coking coal); Strip Casting: (eliminates the slab-casting method and produces hot-rolled flat products directly from molten iron); Continuous Hot Rolling (steel slab is rolled using a solid-state joining method); and Poscote-C (flat-steel products are dried with resin in a rapid manner resulting in stronger products).

Sources

About.com. Metals. Company Profile: POSChttp://metals.about.com/od/suppliersaz/a/Company-Profile-Posco.htm

Fundign universe. POSCO

http://www.fundinguniverse.com/company-histories/POSCO-company-History.html

World Steel Association. "Worldsteel top producers 2010."

http://worldsteel.org/statistics/top-producers.html

POSCO

http://www.posco.com/homepage/docs/eng2/jsp/s91a0010001i.jsp

Sources used in this document:
Sources

About.com. Metals. Company Profile: POSChttp://metals.about.com/od/suppliersaz/a/Company-Profile-Posco.htm

Fundign universe. POSCO

http://www.fundinguniverse.com/company-histories/POSCO-company-History.html

World Steel Association. "Worldsteel top producers 2010."
http://worldsteel.org/statistics/top-producers.html
http://www.posco.com/homepage/docs/eng2/jsp/s91a0010001i.jsp
Cite this Document:
Copy Bibliography Citation

Related Documents

Management Case Study Scenario- We Are an
Words: 897 Length: 2 Document Type: Case Study

Management Case Study Scenario- We are an event management company. Our team has been asked to plan an event for 200 people in an outdoor "green" space. The event includes workshops, breakout meetings, breakfast and lunch. Overall Task- Since the event has been requested in a "green" or outdoor space, the first consideration will be the venue and time of year. If the event is in a reasonable season (Mid-late Spring

Conceptualizing a Business Is the First Step
Words: 1397 Length: 4 Document Type: Essay

Conceptualizing a business is the first step when it comes to putting thoughts in a manner which investors, or even bankers can visualize.it might take a very long time before thoughts are organized but the knowledge of the important things to focus on will hasten this process. The paper will give an explanation of my selected business vision, mission and values in determining the organization's strategic direction. Developing a mission statement Donne's

Clandestine Drug Laboratories and the Fire Service
Words: 2356 Length: 7 Document Type: Term Paper

Clandestine Drug Labs and the Fire Service What are the risks and inherent dangers when firefighters are facing a blaze that resulted from a meth lab? What should firefighters do when they suspect a fire has been caused by the existence of a meth lab? Are clandestine meth labs more prevalent then they were a few years ago? These questions and others will be addressed in this paper. What States' Firefighters have

Garage Chemistry and Do-It-Yourself Science
Words: 1943 Length: 6 Document Type: Essay

) Hydrochloric acid, formic acid, nitric acid, hexanes, and toluene are all available in ACS grade through Carolina, which, with a bit of imagination, could turn into some spectacular experiments. (Toluene is, of course, a component in the production of TNT -- talk about an exothermic reaction.) Laboratory equipment is also widely available. A simple search of the popular site Shopwiki.com reveals hundreds of beakers, pipettes, test tubes, alcohol burners, syringes,

Theories Regarding Plate Tectonics, With
Words: 2610 Length: 9 Document Type: Thesis

D.). A researcher may determine if a rock sample is sedimentary by examining whether it consists of grains. An igneous (from the Latin word for fire) rock, known as granite, consists of minerals like quartz, mica, and feldspar. "Igneous rocks come from melted rock material, or magma, that lies under Earth's surface" ("How can you tell," n.d.), forming when magma from inside the Earth travels toward the Earth's surface, or

Hydrothermal Vents Life in the
Words: 2042 Length: 6 Document Type: Research Paper

These worms play an integral part of the community. They do not have any digestive capacities, as they lack mouths and digestive systems. Rather, they absorb the nutrient-rich waste products of the bacteria through their epidermal layers. They use hemoglobin produced inside their bodies to combine hydrogen sulfide, which is a necessity of many of the bacteria living in and around the vents. The worms transfer this hydrogen sulfide

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now