Two Hyundai Motor Group steel-producing units announce the intended purchase of Hanbo Steel for 910 billion won ($793.2 million). The purchase of the bankrupt steel producer is designed to give Hyundai’s car-making division, Hyundai Motor Co. Ltd., better access to steel. Hanbo’s galvanized iron plate factory makes cold-rolled coil and high-end steel products for cars. High demand for steel has led to shortages and the threat of continued price hikes, analysts say. Hanbo, once the ...
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