December 12, 2012 / 12:00 PM / 5 years ago

Posco not interested in Italian ThyssenKrupp plant

SEOUL/LONDON (Reuters) - Steelmaker POSCO (005490.KS) has denied it is interested in buying the ThyssenKrupp stainless steel plant in Terni, Italy, rejecting market speculation that the South Korean producer could buy the plant to increase its presence in Europe.

The headquarters of Germany's industrial conglomerate ThyssenKrupp AG is pictured before its annual news conference in Essen December 11, 2012. REUTERS/Ina Fassbender

“POSCO is not interested in the ThyssenKrupp Terni planty,” a spokeswoman for the company said.

She declined to comment on whether POSCO had taken a look at buying the plant or was never interested.

Finnish group Outokumpu (OUT1V.HE) has committed to selling the Acciai Speciali Terni plant to gain regulatory approval for buying ThyssenKrupp’s (TKAG.DE) Inoxum unit.

Reporting by Jung Yoon Lee and Silvia Antonioli; Editing by Greg Mahlich

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