The ribbon-cutting at the new Posco Indiana Wire Rod Processing Center grand opening ceremony gets underway on Friday with (from second left) Indiana Gov. Eric Holcomb, Posco CEO Kwon Oh-joon, U.S. Congressman Trey Hollingsworth and South Korean Consul General Lee Jong-Kook. [Photo by Posco]
South Korea’s top steelmaker Posco said Sunday it opened up a new facility along the Ohio River in Indiana, U.S, which would be its biggest overseas processing facility to turn out wire rods.
Posco spent $20.90 million to build the facility at the Port of Indiana-Jeffersonville with annual capacity to process steel wire rods customized for their automaking and other industrial clients. The company began construction of the facility in the world’s biggest wire rod market in April of last year. The Indiana plant is the steelmaker’s second wire rod processing center built overseas following the one in Mexico.
Posco said it will be focusing on value-added fasteners, nuts, bolts and bearings for automotive customers. Its major customers include Nissan, Fontana Group, Taeyang Metal Industrial and Semblex.
By Moon Ji-woong
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