SEOUL, Oct. 13 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Wednesday its third-quarter operating income more than quadrupled to a record high on robust demand amid the global economic recovery from the COVID-19 pandemic. Operating income for the three months that ended in September reached 3.11 trillion won (US$2.6 billion) on [...]
SEOUL, Sept. 30 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Thursday it has broken ground on a 120 billion won (US$101 million) plant that will extract nickel and lithium, key materials for electric vehicle batteries. The plant by POSCO HY Clean Metal is capable of extracting nickel, lithium and cobalt from [...]
SEOUL, Aug. 31 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Tuesday it has signed an initial agreement with Array Technologies Inc. to provide a corrosion resistant product to the U.S. manufacturer of ground-mounting systems used in solar energy projects. Under the memorandum of understanding inked virtually, POSCO will begin providing 200,000 [...]
SEOUL, Aug. 27 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Friday it has teamed up with Korea Shipbuilding & Offshore Engineering Co. and other partners to develop a carrier of liquefied carbon dioxide in the latest move to reduce greenhouse gas emissions. Under the deal, POSCO and its partners will build [...]
SEOUL, Aug. 18 (Korea Bizwire) — Posco magnesium alloy coating (PosMAC), a corrosion-resistant steel product produced by South Korea’s leading steelmaker POSCO, is set to gain wider access in the Chinese market. The China Engineering Construction Standardized Association recently certified the ternary alloy coated steel product with high corrosion resistance as a suitable material that [...]
SEOUL, Aug. 17 (Korea Bizwire) — An analysis showed that the primary factor behind South Korean steel giant POSCO’s record-high second quarter results was the surge in its non-steel profits along with the recovery of its main steel business. POSCO Chairman Choi Jeong-woo, who took office in July 2018, is assessed as having succeeded in [...]
SEOUL, July 28 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Wednesday it will build a new nickel sulfate refinery to meet rising demand for electric vehicle (EV) batteries. The steel giant said the broader POSCO group will invest 230 billion won (US$199.5 million) to build the new refining infrastructure to produce [...]
SEOUL, July 22 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Thursday that its second-quarter net profit surged 18 times from a year earlier on robust demand amid the global economic recovery from the COVID-19 pandemic. Net profit for the three months that ended in June soared to 1.81 trillion won (US$1.57 [...]
SEOUL, July 20 (Korea Bizwire) — South Korea’s steel giant POSCO announced on Monday that in collaboration with power plant builder Doosan Heavy Industries & Construction Co., it will develop a new power generation technology using the ammonia synthesized from green and blue hydrogen as a fuel. The two parties, together with the Research Institute [...]
DANBURY, Conn., July 13 (Korea Bizwire) – FuelCell Energy, Inc. (Nasdaq: FCEL) — a global leader in fuel cell technology with a purpose of utilizing its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy — announced today that it has received a favorable ruling in a court case filed in the Court [...]