Posco owed Nippon Steel compensation

Nippon Steel, a Japanese metallurgical company requires monetary compensation in the amount of 1.4 trillion. There (1.2 billion dollars) from Posco, South Korean steel giant. For a week, hearing has been held.

Nippon Steel insists to pay compensation for a lawsuit due to incorrect pirate technology: sheet electrostal and the gearbox . "Posco" is in no hurry to pay the required money and refer to their legal sources of technology. Posco reported that they intend to actively defend themselves against the claim in any case.

In the spring, Nippon Steel said she would achieve the suspension of the production of a South Korean steel giant and the sale of a particular type of sheet from electric stal. Nippon Steel, right in the courtroom, accused the South Korean holding of unfair and dishonest competition. What the court hearing ends is not yet known.

It is important to recall that Nippon Steel in 2011, the company, reduced the profit by 36.8% to the deduction of taxes. The profit of the corporation is currently in the reporting period about 1,43.01 billion yen (this is more than $ 1.77 billion).

Nippon Steel Corporations in Japan is considered the largest steel company, and the second in the world.

The company "Posco" takes only the third place in the global steel market. The holding produces cold and hot rental and supplies products to automobile and shipbuilding companies. Today, the company owns a 41 production asset in 14 countries.