South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has announced that it has agreed to buy a 20 percent stake in US graphene maker XG Sciences, without specifying the cost of the deal. POSCO will accordingly become the biggest stakeholder in XG Sciences.
Graphene is used in televisions, monitors and touchscreen handsets, and the latest deal will secure a stable supply of the material for the automotive, technology and energy industries, POSCO said in a statement.
POSCO also said it plans to build facilities for the production of grapheme in South Korea next year in association with South Korean company Hanhwa Chemical. On January 19 this year, Hanhwa Chemical bought a 19 percent stake in XG Sciences at a cost of $3 million.