l POSCO TNPC reports breakthrough despite Turkey’s economic crisis and global trade protectionism
l POSMAC and automotive steel plates: company’s diversified sales network help secure profits
POSCO-Turkey Nilufer Processing Center (POSCO-TNPC), an automotive steel processing center, achieved a total of one-million-ton sale this February. Established in 2009, the company is POSCO Group’s first outreach attempt towards the European continent. Turkey’s geopolitical advantage – as a bridge between Asia and Europe, Turkey is the EU’s major trade and political partner – made it an ideal choice for POSCO’s advance into Europe.
POSCO TNPC’s primary customers are the top global automobile dealerships and manufacturers with joint ventures in Turkey, like the French automobile manufacturer Renault and the Fiat Automobiles of Italy.
To celebrate its breakthrough, POSCO-TNPC held a ceremony last February where it reconfirmed its full dedication to expanding the sales market in Turkey. POSCO-TNPC’s achievement is especially meaningful as the company commemorates its 10th anniversary this year, as well as the economic turmoil the country has undergone.
The Turkish economy has suffered a severe downturn. Following the financial crisis last year, the Turkish lira devalued by more than 40%. Steel sales hit a significant roadblock due to the stringent trade protectionism pervasive worldwide – import-export to and from Turkey became all the more challenging.
POSCO-TNPC is stepping up to help negate the current crisis by focusing on boosting sales of the WTP (World Top Premium) products and by actively supporting overseas customers’ export businesses to Europe and the Middle East. Also, POSCO-TNPC has established an extensive portfolio composed of automotive steel plates, POSMAC, and electric steel plates, which helped secure stable profits despite strenuous circumstances at home and abroad.
On the other hand, POSCO is continuing its outreach to Europe with its global yet localized marketing tactics with the following operations: POSCO-ASSAN TST (cold-rolled stainless steel production plant in Turkey), processing center POSCO-PWPC (Poland), POSCO-ITPC (Italy) as well as the distribution center POSCO-ESDC (Slovenia).