POSCO considering HMM acquisition to drive growth beyond steel

POSCO Group is considering acquiring shipping giant HMM as part of efforts to diversify its portfolio beyond steel. According to the investment banking industry, the company has formed a group of advisers, including from Samil PwC and Boston Consulting Group, to review the possibility of acquiring HMM. The potential acquisition is seen as significant, signaling POSCO’s bid to secure new growth drivers as it restructures in response to sluggish performances in its core businesses. POSCO has prior experience in the shipping sector, acquiring and running Geoyang Shipping. However, it stepped away when it sold Geoyang to Hanjin Shipping in 1995. The company currently spends about 3 trillion won ($2.16 billion) annually on logistics, which covers importing raw materials such as metallurgical coal, steel products and battery materials, as well as exporting finished goods. By buying a shipping company, POSCO is expected to stabilize procurement and exports while mitigating external risks such as surging freight rates and supply chain disruptions. As part of its future strategy, HMM has been expWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times