Austem to establish production subsidiary in Yantai, China

Austem announced that it would establish POS-AUSTEM Yantai Automotive Co., Ltd. in Yantai, Shandong Province, China to produce automotive components for Shanghai GM’s Yantai Plant. The new company will be capitalized at 10,547 million won, of which 80.1 percent will be provided by Austem, 11.44 percent by POSCO-China....

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