Seoul (ANTARA News/Asia Pulse) - POSCO (KSE:005490), South Korea's leading steelmaker POSCO said Wednesday that it has decided to buy a stake in a local plant equipment maker for 159 billion won (US$141 million).

In a regulatory filing, POSCO said it would buy a 40.4 per cent stake in Sungjin Geotec Co., or 12.34 million shares.

The stake purchase is aimed at creating a synergy effect with its affiliates such as POSCO Engineering & Construction Co.


Source:
Business in Asia Today - March.17, 2010
published by Asia Pulse

Editor: Ricka

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