It is reported that South Korean steel giant POSCO has reportedly decided to acquire Thainox Stainless Plc, the largest stainless steel producer in Thailand.

Mr Lee Dong-hee, POSCO's president and chief investment officer, told reporters “The chairman of Thainox Stainless will come to Seoul tomorrow. We should finalize the deal.”

An industry insider said the negotiations are understood to be in the final stage, with only the signing of the contract remaining.

(Sourced from chosun.com)