SK to build Chinese JV plant with Posco

SK Networks Co., the trading arm of SK Group, said it has completed a US$10 million steel processing facility in China in a joint venture with Posco. SK Networks has an 80% stake in the venture, with the remainder being held by Posco, the world’s fourth-largest steelmaker by output, the company said in a statement. SK Networks will process 140,000 metric tons a year of steel to be used in liquid crystal displays, DVDs and PCs in the Pinghu facility and supply them to local IT and home appliances companies. (October 29, 2007)