Sep 13 2006
POSCO began construction of the Magnesium Sheets Plant on August 31, 2006 at the Haeryong Industryal Complex in Suncheon.
At the groundbreaking ceremony, about 200 notable figures, including Governor Jun Yeong Park of Jeonnam, Mayor Gwan Gyu Noh of Suncheon, Assemblyman Gab Won Seo, Industrial Policy Administrator Jae Hun Lee of the Ministry of Commerce, Industry and Energy, President Seok-Man Yoon and other members of POSCO, participated in and congratulated POSCO on the beginning of the magnesium sheets business, the new-material growth engine of the local community.
POSCO`s Magnesium Sheets Plant, which will produce 3,000 tons of magnesium sheets a year beginning in July 2007, will introduce a strip-casting and continuous hot-rolling process to produce thin sheets by melting molten magnesium ingots in a furnace and avoiding the slab process; this will contribute to high cost-efficiency and quality enhancement. The magnesium plant will include utility units for electricity and water supplies within Haeryong Industrial Complex.
Magnesium sheets, recognized as the metal of the future, have a consistent durability and flexibility and are easily formed into various hard cases for mobile devices (mobile phones, PDA, laptop computers, etc.) and steering wheels. These sheets are 25% and 70% lighter than steel and aluminum, respectively, and are better for recycling and electromagnetic wave isolation than plastic. Currently, demand for magnesium sheets has sharply increased, especially for making accessories for mobile electronic devices.
Jeollanam-do is planning to concentrate related industries in Haeryong Industrial Complex and foster a world-class magnesium complex in its territory. POSCO`s Magnesium Sheets Plant is expected to contribute to Jeollanam-do`s local economy.
At the ceremony, President Seok-Man Yoon delivered a commemorative message and introduced magnesium sheets as POSCO`s new material for future growth. He resolved to foster the Magnesium Sheets Plant into the best in its class in order to contribute to the local economy and accomplish sustainable growth.
POSCO has pursued the magnesium business since 2002. The world`s first integrated production line, from strip-casting to pressure-rolling, was developed at the Research Institute of Industrial Science and Technology in Pohang and has been recognized as a best technology.