Posco Holdings’ shares climbed after the steelmaker unveiled a three way partnership challenge to supply uncommon gases for making semiconductors in South Korea.
Posco
005490,
rose as a lot as 7.3% to 508,000 gained ($391.85) in early commerce Wednesday, outperforming the benchmark Kospi’s
KR:180721
0.1% fall.
The inventory’s rally, which snapped a three-session shedding streak, got here after Posco and China’s Zhongtai Cryogenic Technology
300435,
agreed to collectively construct a plant to supply high-purity neon, krypton and xenon gases.
The JV would produce 130,000 regular cubic meters of uncommon gases yearly, about 52% of South Korean chip makers’ whole wants, in keeping with Posco.
Posco and Zhongtai plan to interrupt floor in 2024 to construct the JV plant within the South Korean southern port of Gwangyang and begin manufacturing in late 2025.
Posco stated its Chinese associate would maintain a 24.9% stake within the JV, whereas it could maintain the remaining 75.1% stake. Posco didn’t disclose monetary phrases.
The JV would “contribute to stabilizing the supply chain by domestically producing high-purity rare gases for semiconductors, which have been mostly imported,” Posco stated in a press release.
The world provide chain has been disrupted by the continued conflict between Ukraine and Russia, that are important suppliers of high-purity uncommon gases.
Source web site: www.marketwatch.com
