06
Dec
12:04
Krakatau could increase Posco JV stake
Indonesia’s PT Krakatau could increase its stake in Krakatau Posco from 30% to 45% in the new year through a new share issuance, according to Krakatau Posco corporate secretary Agus Sutan. The troubled 3 million tonne/year slab and plate producer has recently managed to turn its first profit since being founded in 2010, Kallanish notes.
Posco’s 70% stake in the Indonesian venture has been a consistent drag on its profits until this year. Days after c…
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