ID :
96490
Thu, 12/24/2009 - 02:09
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https://www.oananews.org//node/96490
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POSCO fails to sign deal to buy Thainox
By Nam Kwang-sik
SEOUL, Dec. 22 (Yonhap) -- POSCO Co., South Korea's leading steelmaker, failed Tuesday to reach agreement with Thainox Stainless Plc. to take over the Thai steelmaker, the company said.
"We failed to sign the deal to acquire Thainox Stainless, but we will continue
talks," said Choi Youn-joung, a spokesperson for POSCO.
POSCO bought a 15 percent stake in Thainox Stainless in 2006 and is seeking to
take over the largest stainless steel producer in Southeast Asia.
On Monday, POSCO President Lee Dong-hee said that the company plans to close the
envisioned deal.
ksnam@yna.co.kr
(END)
SEOUL, Dec. 22 (Yonhap) -- POSCO Co., South Korea's leading steelmaker, failed Tuesday to reach agreement with Thainox Stainless Plc. to take over the Thai steelmaker, the company said.
"We failed to sign the deal to acquire Thainox Stainless, but we will continue
talks," said Choi Youn-joung, a spokesperson for POSCO.
POSCO bought a 15 percent stake in Thainox Stainless in 2006 and is seeking to
take over the largest stainless steel producer in Southeast Asia.
On Monday, POSCO President Lee Dong-hee said that the company plans to close the
envisioned deal.
ksnam@yna.co.kr
(END)
