7 Dec 2016
SYDNEY Australian industrial group Arrium has sold its Moly-Cop unit for $1.2 billion to private equity firm American Industrial Partners, a spokesman for KordaMentha told Reuters.
* Still seeks buyer of Australian unit (Adds details of sale process)
SYDNEY/SEOUL, Nov 3 South Korea's POSCO said on Thursday it has not bid to acquire Australia's Arrium Ltd steelworks, but is trying to sell the group technology, differing from comments by a senior Australian minister that said POSCO is in the running.
* Company cautions on Q4 due to coking coal price surge (Add executive comments, Moody's report)
SEOUL South Korean steelmaker POSCO posted a weaker-than-expected quarterly operating profit, but said it was likely to benefit in the longer term as measures to curb overcapacity in top producer China start positively impacting product prices.
SEOUL Chief executive of POSCO, South Korea's top steelmaker, said "protectionism" by the United States and other countries could have an adverse impact on the company's exports, media reports showed on Friday.