Posted on 31 Mar 2016
POSCO eyes global expansion with high-strength steel for cars
Korea’s top steelmaker POSCO will be expanding its global business
through its world premium automotive steel sheet products, the company
said Tuesday.
With currently 26 client companies in 12 countries,
POSCO plans to further expand its global business by focusing on
automotive steel products as part of a decision to maximize profits, as
premium automotive steel sheets have 10 percent higher profitability
than regular products.
POSCO presently runs steel car parts production factories in China,
India, and Mexico. It plans to complete another production factory this
year in Thailand. POSCCO is also currently constructing a domestic
advanced high-strength steel production factory, which is set to be
completed in 2017.
Among the conglomerate’s world premium
automotive steel are POSCO’s twinning-induced plasticity steel and hot
press forming steel, known to be 30 percent lighter than regular steel
while maintaining high tensile strength.
TWIP is one of POSCO’s
successfully mass-produced structural steel, with five times higher
machinability than regular steel. It is also known for its strength as
it can withstand 100 kilograms per square millimeter.
Meanwhile,
HPF, used for center pillars in vehicles, also has high tensile
strength and is able to withstand 150 kilograms per square millimeter.
POSCO is the first company to produce high tension steel with the world’s highest strength of 2GPa.
