Dec 2 2004
On November 11, 2004, POSCO entered into a technology partnership agreement with GMH Daewoo at the POSCO Center, and set up the Technology Cooperation Committee to oversee the development of automotive steel.
The two companies selected 14 tasks to be merged from the entire car building process. For this joint project, they will exchange technical expertise and human resources. They will also conduct necessary cross training, as well as POSCO’s innovative "Six Sigma" process.
Prior to the agreement, the two companies conducted joint R&D activities to develop new automotive steel products and to apply new processing technology. Since POSCO established its Automotive Steel Research Center in January 2002, the two companies expanded their exchanges to encompass part development using up-to-date processing technologies such as the Tailor Welded Blank (TWB) and Hydroforming.
The Technology Cooperation Committee is a more efficient system when compared to previous collaborations. Executives, team leaders, and on-site workers from each sector of the two companies, including marketing, purchasing, R&D, and production technology, will participate in the committee.
POSCO said, "This agreement enables us to more effectively respond to demand by car makers for new material development, and to quickly develop and sell products where new technologies are applied." GM Daewoo also welcomed the collaboration by saying, "Through our technical collaboration with POSCO, we will be able to get the highest quality steel for our new cars."
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