POSCO to sell its pulverised slag business

Korea’s POSCO has announced that it will sell Posfine as part of its strategy to enhance its financial structure by restructuring non-core businesses. Posfine pulverizes slag, which it then sells to cement manufacturers. It was established in 2009 as a joint venture with Dongyang Cement, Ssangyong Cement and Lafarge Halla Cement, and operates a 2 million tpa slag powder plant in Taein-dong, Gwangyang-city.

In addition to Posfine, POSCO also plans to sell its South American forestation company, POSCO Uruguay. The group will turn its Gwangyang LNG Terminal into a separate corporation, selling some of its shares but retaining management rights.

Adapted from press release by Louise Fordham

Read the article online at: https://www.worldcement.com/asia-pacific-rim/29072014/posco-to-sell-slag-business-posfine-196/