POSCO struck an agreement on June 21 with Associated Spring Company (AS) to co-research the development of spring steel for heavy-duty engine valves. AS is the largest spring producer in North America.
This project will strengthen cooperation between POSCO and other spring steel producers. Also, it will enable the company to efficiently cope with demand for the high-end iron rod product.
At the signing ceremony, POSCO, KISWIRE Ltd., and AS agreed on a mutual research program to be divided into two phases over two years in July. The first research phase will determine the basic composition of spring steel for heavy-duty engine valves, while the second research phase will focus on developing the technology to commercialise spring steel. Attending were the president of AS Sales; the head of the R&D Center at KISWIRE, the team manager of the Iron & Steel Making Research Team from POSCO; and others involved with the research project.
Currently, Japan produces roughly three quarters of the world’s spring steel for engine valves. However, if POSCO develops spring steel for engine valves faster than Japan through this joint project, the company will quickly increase its market share.
Furthermore, this mutual research is expected to significantly enhance the strength of materials, which has been a constant request made by automotive companies due to the trend of making cars lighter.