POSCO Chemical is on the rise.
As of 1:59 pm on the 25th, POSCO Chemical is trading at 163,000 won, up 6.89%.
On the 24th, POSCO Chemical held a ceremony for the completion of the new plant at the 7th Refractory Plant located in Cheongnim-dong, Pohang City, with the presence of CEO Min Kyung-joon and construction company POSCO Plantec CEO Jo Jung-woo.
Construction of the new plant will start in 2020, with an investment of KRW 49.2 billion and a total floor area of about 4759 m², with an annual production capacity of 21,700 tons of fluorinated refractories.
With this new investment to replace the old factory 5, the annual output of fluorinated refractories increased by 14% from 46,000 tons to 52,500 tons.
Seo Young-hyeon, head of POSCO Chemical’s Refractory Production Department, said, “We are able to lead the next 50 years by further enhancing our business competitiveness by applying cutting-edge process technology to the material technology we have developed over the past 50 years.” It will also contribute to strengthening competitiveness.”
