S.Korea’s POSCO buys Japan’s power firm for $7.4 mln

SEOUL, Dec 5 (Reuters) – South Korea’s POSCO , the world’s No.3 steelmaker, said on Sunday that it had acquired Japanese power generation company Xenesys Inc. for 610 million yen ($ 7.4 million), its first acquisition of a non-steel firm overseas.
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Increasing capacity towards solar power will enable SA to become “a major player” in the industry and create thousands of jobs, the chairman of a southern African solar association said on Wednesday.
Read more on IAfrica South African Business News

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