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POSCO takes lead in steel market for cars-The 18th China(Guangzhou ) Int’l Casting product Exhibition
12/1/2016 casting expo |
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Korean Times reported that POSCO has been mobilizing substantial resources to develop the next-generation of automobile steel plates to become a global leader in the rapidly expanding segment. Korea''s largest steelmaker produced a total of 8.7 million tons of auto plates at home and abroad in 2015, accounting for about 10 percent of the global demand, and plans to bolster its annual capacity to 10 million tons by 2018.
A POSCO spokesman said that "Of the 800 steelmakers around the world, only 20 are capable of producing automotive steel plates. This means making premium, high value-added products requires a high degree of technological knowhow and expertise. We will continue to invest in honing our core competence and increase our production volume to become a leader in the global automotive steel plate segment."
The spokesman said the company will strengthen its partnership with domestic and foreign automakers to secure more supply contracts. He said that "Based on the mutually-beneficial partnership we have formed with global carmakers, we will increase our annual capacity to 10 million in 2018."
During the 2016 North American Auto Show in Detroit in January, POSCO organized a tech exhibit featuring its twinning-induced plasticity (TWIP) steel, hot-press-forming (HPF) steel and other advanced automotive materials.
The firm''s TWIP steel received keen attention from global automakers for its exceptional mechanical properties including high strength and ductility. TWIP has been applied to the manufacture of bumper beams for its superb ability to absorb shock at the instant of a collision.
The firm''s Giga Steel, an ultra-high strength steel that can withstand the tensile strength of one gigapascal (GPa), has been attracting a great deal of interest from automakers and auto parts makers around the world.
POSCO, which developed Giga Steel using its own technology, has been trying to expand its market through establishing partnerships with carmakers.
The spokesman said that "Automakers have been focusing on producing lightweight cars by using Giga Steel and other new materials that are lighter but stronger than conventional steel plates. We will continue to expand the market for our newly developed steel products and increase our production capability."
In May, the company completed the renovation of its auto steel plant in Gwangyang, South Jeolla Province, which began operating in 1997. The facility, capable of making an annual 2.2 million tons of auto steel plates, churns out mostly advanced high strength steel for carmakers in the United States and Japan.
In August, POSCO also started operating an auto steel plate plant in Thailand to take advantage of rapidly expanding car production in the Southeast Asian nation.
The facility, which can produce up to 450,000 tons of auto plates annually, deals mainly with Toyota, Nissan, Ford and other automakers'' operating factories nearby.
-The 18th China(Guangzhou ) Int’l Casting
product Exhibition
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