POSCO celebrated the ground breaking of the third automotive processing center for POSCO CSPC on June 28.

The new facility is located within the Chaoan Development Zone in the city of Kunshan, China.

The ceremony featured more than 60 special guests, including Mr Shin Jae-chul POSCO’s Senior Vice President of Marketing Strategy Department as well as Chinese government officials and representatives of POSCO CSPC’s clients, such as Austem and Shanghai Tractor.

In the firm belief that our future depends on the trust and success of our customers, Mr Shin senior vice president said that we will work closely with local communities and our customers through consistent investments and outreach activities.

The Eastern (Huadong) Region of China, which includes Kunshan and Shanghai, is the center of the Chinese automotive industry. It features production facilities of global automakers such as GM, Nissan and Austem. The number of vehicles produced in Shanghai is expected to reach 3.39 million units in 2015, from 1.63 million in 2009.

Taking advantage of the strategically important location, POSCO-CSPC will seek to provide carmakers with high quality automotive steel products. It also plans to expand its sales presence in the region by working together with GM and Volkswagen in Shanghai in the upcoming models.