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In POSCO refuted rumors about the purchase of Italian stainless steel production

The representatives of the South Korean steel company «Pohang Iron and Steel Company» (POSCO) have denied rumors that the company management plans to buy «Acciai Speciali Terni» — Italian companies (belonging to «ThyssenKrupp») for the production of stainless steel. «Information about the intentions of the leadership of our corporation to purchase any plants in Europe — Fiction. At the moment, we have no plans to expand the stainless steel business in the EU, and even expect to reduce the number of its assets in the region, «- told reporters the official sources in» POSCO «.

Earlier media reports regarding the «Acciai Speciali Terni» reported that the sale of the Italian factory was put up by the owner at the insistence of the European Commission. Such action instructed owner as a measure protecting the domestic market from education «stainless monopoly» (it could turn into a Finnish «Outokumpu's» after the acquisition in «of ThyssenKrupp» Division «Inoxum»). As potential buyers «Terni» called several Asian steel concerns, the most likely of which analysts saw the South Korean company «Pohang Iron and Steel Company». However, as mentioned above, in «POSCO» said the lack of interest to stainless asset. Do not show activity and the other powerful players in the sector. Therefore, the question of the sale of «Inoxum» may remain «in limbo» for an indefinite period.

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