Dongkuk Steel, Posco To Increase Stake In JV With Vale – Report
Witput
South African Railways General Electric Company Type U26C Co-Co class 34.4 diesel-electric locomotive number 34-494 at Witput with a northbound freight train. Friday 15th June 1984
Witput signal box’s home signals are carried on a three-doll balanced bracket, the right-hand doll applying to movements to a goods line
SEOUL -(Dow Jones)- Dongkuk Steel Mill Co. (001230.SE) and POSCO (005490.SE) will together buy an extra 20% to 30% stake in their joint-venture company with Brazilian mining giant Vale S.A. (VALE), the Korea Economic Daily reported Wednesday, quoting Dongkuk’s chief executive.
Vale has plans to divest about 20% to 30% of the steel mills development joint venture company, in which it currently owns 50%, and Posco and Dongkuk Steel will become the buyers, said Dongkuk Steel Chief Executive Chang Sae-joo, according to the report.
Dongkuk Steel and Posco currently hold a 30% and 20% stake, respectively, in the joint venture, the report said.
– By Min-Jeong Lee, Dow Jones Newswires; 822-3700-1908; min-jeong.lee@dowjones.com
Copyright © 2011 Dow Jones Newswires
Category: Business
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