POSCO held a commemoration ceremony, November 17, for management executives of Maruichi Steel Tube Ltd. of Japan, after achieving accumulated trade of 8 million tons of steel. Attendees included Chairman Suzuki and Vice President Horikawa of Maruichi Steel Tube Ltd., Oh In-hwan, Head of Steel Business Division and Kim Young-sang, CEO of Daewoo International. During the ceremony, the executives from the three companies, POSCO, Maruichi Steel Tube Ltd. and Daewoo International, exchanged appreciation plaques and promised continued partnership.
Established in 1947, Maruichi Steel Tube Ltd. produces steel tubes for construction, civil engineering and automobiles, and has been a partner with POSCO for 35 years, since 1980. Purchasing only 3,500 tons of POSCO steel products for their first trade agreement, Maruichi Steel Tube Ltd. now purchases over 150,000 tons of hot rolling products from POSCO per year.
Oh In-hwan, Head of Steel Business Division expressed his gratitude by saying, “It is a meaningful accomplishment for both companies to achieve accumulated trade of 8 million tons while overcoming difficulties together for the past 35 years. POSCO could not have grown to this extent without the help of Maruichi Steel Tube Ltd., our customer as well as our partner. I hope both companies will maintain a close partnership based on trust over the coming years.”
Maruichi Steel Tube Ltd. Chairman Suzuki replied, “With POSCO’s support to constantly supply high quality steel products, we also grew as a competitive steel tube company, securing manufacturing and sales bases throughout Japan. We look forward to POSCO’s continued support in the future.”
During the ceremony, executives of both companies pledged to overcome the current challenges of the steel industry by strengthening cooperative relationship in the future and jointly responding to increasing demands for steel products for 2020 Tokyo Olympics.