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Posco Is likely to Acquire Arrium

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Posco, South Korea's iron and steel company is likely to acquire Arrium, the Australian iron ore and steel producer. Posco also plans to apply Finex iron making process at Whyalla steel and iron plant. The two companies are still in the process of communication, Pohang has not yet made a decision.


Recently, government officials from South Australian visited the Pohang plant, and said that Posco may consider the use of
Finex technology at Whyalla steel and iron plant, so that its annual crude steel production will increase by 1.2 million tons.


As early in 2012, Posco and several South Korean pension funds bid $ 1 billion to acquire Arrium for its iron ore assets. However, Arrium declined the offer. In this acquisition, Posco is interested in Arrium powder ore not 9 million tons of iron ore production capacity. POSCO has been seeking to promote business overseas.


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