South Korean steelmaker POSCO has announced that it will supply the highest-quality maritime structural steel plates for construction of fixed maritime structures for oil drilling in the North Sea.
The steel plates will be used by South Korea-based SamKang M&T, specialized in thick wall steel pipes, which received the orders to construct the drilling structures.
POSCO is aiming for a 10 percent market share in the worldwide steel plate material market for the energy industry by 2020.
Meanwhile, POSCO is the first to develop a mass production system to provide 490MPa class tensile strength advanced high strength steel (AHSS) used in automobile outer panels. AHSS allows lighter vehicles and is expected to see increased demand in the automobile outer panel market.
While steel companies worldwide are only providing 340MPa class steel materials to automobile companies due to processing limitations, with POSCO's mass production supply system 490MPa class steel materials can now be applied to automobile doors. The company plans to expand the outer panel for doors to the automobile body.