Hyundai Steel Shifts Market Focus from China to India
[tintuc]
Hyundai Steel has sold its subsidiary in Chongqing, China, and is shifting its focus to emerging markets. The company announced that it will reorganize its business operations in China, concentrating on its subsidiary in Tianjin, and redirect its market focus to the emerging market in India to boost its international business activities. The growing demand in the industrial and automotive sectors in India makes it an ideal location for Hyundai Steel's expansion.
Currently, Hyundai Steel is building a Steel Service Center (SSC) in Pune, India, located near Hyundai Motor's Pune plant. The SSC Pune is planned to have an annual steel production capacity of 230,000 tons, with commercial production expected to begin in the third quarter of next year.
Hyundai Steel has sold its subsidiary in Chongqing, China, and is shifting its focus to emerging markets. The company announced that it will reorganize its business operations in China, concentrating on its subsidiary in Tianjin, and redirect its market focus to the emerging market in India to boost its international business activities. The growing demand in the industrial and automotive sectors in India makes it an ideal location for Hyundai Steel's expansion.
Currently, Hyundai Steel is building a Steel Service Center (SSC) in Pune, India, located near Hyundai Motor's Pune plant. The SSC Pune is planned to have an annual steel production capacity of 230,000 tons, with commercial production expected to begin in the third quarter of next year.
