South Korean steelmaker Hyundai Steel (KRX:004020) is considering selling the caterpillar track division of its Pohang plant to Daejoo.KC, as part of restructuring efforts amid weak construction demand and increasing Chinese competition, Yonhap News reported Monday.
Sales from the unit plunged 65% last year, prompting Hyundai Steel to guarantee employee job security through internal relocation. The move follows broader emergency measures, including temporary plant shutdowns and a $5.8 billion investment plan for a new US steel mill to offset tariff pressures, the report said.
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