Neuromeka
Assembly Line
POSCO to buy Korean robotics firm stake for steel business
South Korea’s steel-to-battery materials conglomerate POSCO Group will invest in the leading domestic robotics company to boost its ailing steel business through factory automation as it seeks a new growth engine.
Neuromeka Co., Korea’s top collaborative robotics maker, announced on Friday it will issue 10 billion won ($7.2 million) in convertible bonds to POSCO Holdings Inc., parent of the world’s No. 7 steelmaker POSCO and EV battery materials producer POSCO Future M Co.
POSCO Holdings is set to secure a 3.81% stake in Neuromeka if the conglomerate converts the debt securities into the Kosdaq-listed company’s stocks.