Korean Posco, Japan's Tokai Carbon to establish isotropic graphite JV
Nov 22, 2011 - South Korean steel maker Posco (SEO:005490) said Monday it had agreed to form a joint venture with Japanese carbon product maker Tokai Carbon Co Ltd (TYO:5301) to make isotropic graphite, a material used in semiconductors and solar cells.
Posco's unit Posco ChemTech Co will own a 60% stake in the entity, while the remaining 40% will be in the hands of Tokai Carbon. The joint venture is to reach annual capacity of 4,000 tonnes by the end of 2014, Posco said.
Early this month, Japanese daily Nikkei reported that Tokai Carbon planned to bolster by 50% its isotropic graphite production capacity to 15,000 tonnes a year, motivated by the strong solar power market.