Posted on 04 Jun 2012
South Korean steelmaker POSCO said on Monday that it was not considering buying German steelmaker ThyssenKrupp's factories in Brazil and the United States.
German weekly WirtschaftsWoche reported that ThyssenKrupp, Germany's biggest steelmaker, has attracted interest from POSCO and Brazil's Vale for its struggling steel plants in Brazil and the United States.
Reuters also reported previously that one of the potential Asian suitors mentioned by ThyssenKrupp could be POSCO, citing one source familiar with the situation.
"We have not received an offer to buy the plants. Neither have we considered the purchase," Kim Ji-young, a POSCO spokeswoman, said.
In Brazil, POSCO, the world's fourth-biggest steelmaker, partners with Vale and South Korea's Dongkuk Steel to build a 3 million tonnes-a-year slab plant with initial investment cost of $4.2 billion by 2014.
