|  | 17/01/2005 |
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POSCO Raises 2005's Operating Profit by 15-20%
Ku-Taek Lee, Chairman and Chief Executive Officer of POSCO, announced that the firm would raise the operating profit in 2005 by 15-20% from that in 2004 at 5.054 trillion won; the net profit will increase by 10% or more when the operating profit increases by 15-20%. Furthermore, the firm will perform another hikes of prices of steel products in order to shift from rises of the costs of raw materials. In addition, it will promote the production increases and make the products have quality to make more profits. Lee also announced that the firm took into accounts introduction of cold rolled equipment with annual productivity at 400,000 tonnes in Po hang Works through the investment at 290 billion won, as compared with the current annual production capacity at 180,000 tonnes. If the firm decided the introduction, the cold rolled productivity would be raised to about 500,000 tonnes a year. On the other hand, regarding the firm's overseas businesses, he said that the firm would announce something about investment planning in China and India. While restructuring and merger in the world's steel industry is well promoted, he said that the firm would open its doors to cooperation with foreign steel makers though it wouldn't enlarge the scale of the management throughout merger.
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 | POSCO Raises 2005's Operating Profit by 15-20%
| | Sumitomo Corp. to Expands Indonesian Steel Processing Lines
| | Reinforcing Steel Bar Market in Tokyo to Maintaine
| | Ferrous Scrap Price Decreases More in Tokyo
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