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POSCO Increases Production Of Electrical Steel Sheets

By February 21, 2017 at 7:40 am
Inside The Steel Making Process (Photo : Seong Joon Cho/Worldsteel via Getty Images)

POSCO has increased its production of electrical steel sheets which are essential to car engines as well as the high-end consumer electronics. This is the latest in the company's efforts to provide and develop more reasonable but technology-intensive products.

POSCO is the world's fifth-largest steelmaker and it shared that it finally finished the production of facilities at its primary plant in Pohang, North Gyeongsang Province. This is where the electrical steels sheets will be manufactured.

The company's latest expansion has enabled it to produce 160,000 tons of steel sheets annually larger from the previous 80,000 tons. Apart from this expansion, POSCO has also upgraded current facilities in order to manufacture thinner steel sheets.

The chairman of the company Kwon Oh-Joon said that the reason the company decided the expansion is because there is a growing demand for electrical steel sheets as mentioned by Korea Times. This also comes with the production of eco-friendly vehicles and premium.

He even added that this production facility will help the company to provide excellent quality electrical steel sheets which are anchored to the needs of their clients. Their latest expansion is also to boost their core competitiveness.

POSCO estimated that in 2020, the demand for Hyper NO will soar to 1 million tons compared to last year's 800,000 tons. This is for the reason that more and more individuals are driving eco-friendly vehicles and utilize energy-efficient home appliances.

Amidst the worsening problem in climate change and in the environment, these sheets are utilized to make electric cars' drive motors including energy-efficient industrial and electronics generators. The company also seeks to mitigate problems brought about by the deterioration of the environment as per Bloomberg.

While increasing their production of electrical steel sheets, POSCO is choosing to cut the production of conventional steel products to boost its productivity and cope with the saturated global steel market.

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