South Korea’s largest steelmaker POSCO has opened its first overseas automobile sheet plant in Mexico to meet growing demand from carmakers in North America, officials said yesterday.
POSCO’s Mexico CGL plant near Altamira city in Tamaulipas state was inaugurated on Thursday with an annual production capacity of 400,000 tonnes, the South Korean firm said in a statement released here.
“Mexico CGL gives POSCO a stable supply of high-quality steel sheet for Mexico and other regions in [North] America,” POSCO’s chief executive officer Chung Joon-yang said.
POSCO has 40 processing plants in 12 countries outside of South Korea, but the US$250 million venture in Mexico is its first facility making auto sheet overseas.
Mexico exports 77 percent of its automobile production to the US and Canada, POSCO said.
It said Mexico produced 2.1 million cars last year. Volkswagen, Chrysler, General Motors and Nissan are among the multinationals operating there, along with more than 1,000 auto parts companies.
Separately, unionized workers have gone on strike at the ArcelorMittal SA steel plant in Mexico’s Pacific coast port of Lazaro Cardenas.
The plant is one of Mexico’s largest steel facilities and was shuttered by a strike for more than four months in 2006.
The Mine, Metal and Steel Workers Union says that 3,500 union members are on strike at the plant, which employs a total of about 7,000 people.
The union says the strike was launched on Saturday after it made several proposals for a new labor contract to the company that were rejected.
Taiwanese actress Barbie Hsu (徐熙媛) has died of pneumonia at the age of 48 while on a trip to Japan, where she contracted influenza during the Lunar New Year holiday, her sister confirmed today through an agent. "Our whole family came to Japan for a trip, and my dearest and most kindhearted sister Barbie Hsu died of influenza-induced pneumonia and unfortunately left us," Hsu's sister and talk show hostess Dee Hsu (徐熙娣) said. "I was grateful to be her sister in this life and that we got to care for and spend time with each other. I will always be grateful to
UNITED: The premier said Trump’s tariff comments provided a great opportunity for the private and public sectors to come together to maintain the nation’s chip advantage The government is considering ways to assist the nation’s semiconductor industry or hosting collaborative projects with the private sector after US President Donald Trump threatened to impose a 100 percent tariff on chips exported to the US, Premier Cho Jung-tai (卓榮泰) said yesterday. Trump on Monday told Republican members of the US Congress about plans to impose sweeping tariffs on semiconductors, steel, aluminum, copper and pharmaceuticals “in the very near future.” “It’s time for the United States to return to the system that made us richer and more powerful than ever before,” Trump said at the Republican Issues Conference in Miami, Florida. “They
GOLDEN OPPORTUNITY: Taiwan must capitalize on the shock waves DeepSeek has sent through US markets to show it is a tech partner of Washington, a researcher said China’s reported breakthrough in artificial intelligence (AI) would prompt the US to seek a stronger alliance with Taiwan and Japan to secure its technological superiority, a Taiwanese researcher said yesterday. The launch of low-cost AI model DeepSeek (深度求索) on Monday sent US tech stocks tumbling, with chipmaker Nvidia Corp losing 16 percent of its value and the NASDAQ falling 612.46 points, or 3.07 percent, to close at 19,341.84 points. On the same day, the Philadelphia Stock Exchange Semiconductor Sector index dropped 488.7 points, or 9.15 percent, to close at 4,853.24 points. The launch of the Chinese chatbot proves that a competitor can
TAIWAN DEFENSE: The initiative would involve integrating various systems in a fast-paced manner through the use of common software to obstruct a Chinese invasion The first tranche of the US Navy’s “Replicator” initiative aimed at obstructing a Chinese invasion of Taiwan would be ready by August, a US Naval Institute (USNI) News report on Tuesday said. The initiative is part of a larger defense strategy for Taiwan, and would involve launching thousands of uncrewed submarines, surface vessels and aerial vehicles around Taiwan to buy the nation and its partners time to assemble a response. The plan was first made public by the Washington Post in June last year, when it cited comments by US Indo-Pacific Commander Admiral Samuel Paparo on the sidelines of the Shangri-La Dialogue
RSS