Hyundai Steel, Hysco partially merge steel biz
Oct 17, 2013
Aiming to optimize the management efficiency of its steelmaking business, Hyundai Motor Group decided to merge Hyundai Steel and the cold rolled steel sheet division of Hyundai Hysco, officials said Thursday.The merger after divestiture was confirmed in both companies’ directorate meetings on Thursday morning, at last ending the rumors that had boosted the steelmaker’s stock prices over the past months.“The merger is to create a synergy effect with our recently-completed blast furnace and thus c