MAGNESIUM SHEET JOINT RESEARCH PROJECT

8 November 2010

MAGNESIUM ELEKTRON SIGN A JOINT RESEARCH AGREEMENT WITH POSCO

Manchester, UK - 8 Nov 2010 

MAGNESIUM ELEKTRON, a subsidiary of the LUXFER Group and South Korean steel maker POSCO, the world’s third largest steel producer, have signed an agreement to carry out joint research projects covering enabling technologies to facilitate the growth of volume applications utilising magnesium sheet.

The agreement was formally signed on 28th October in Seoul by Chris Dagger, Divisional Managing Director of Magnesium Elektron and Sang-Ho Cho, Senior Vice President at POSCO. The aim is to bring together the extensive Magnesium Elektron technical research base and alloy development experience covering wide ranging applications and the POSCO magnesium process and volume automotive sheet knowledge as well as their research and development resources.

Magnesium Elektron operates the world’s largest magnesium slab casting and rolling plant at their facility in St Louis USA, while POSCO has a world leading twin roll casting and rolling facility near Gwangyang in South Korea.

Magnesium weighs only a quarter as much as steel and is 35% lighter than aluminium. However, wider application of magnesium sheet, particularly for automotive applications, not only requires the material to be cost competitive but all the supporting technologies such as forming, joining, coating must facilitate competitive use of the sheet when compared to steel and aluminium.

The need for lower emissions, coupled with the development of electric vehicles, continues to make light weighting a key strategic objective of all vehicle manufacturers and magnesium sheet can provide a further major contribution to its achievement.

Chris Dagger said “I am delighted as this agreement will bring together the 75 years of magnesium expertise of Magnesium Elektron and the world leading process technology and resources of POSCO, to provide the technology platform for major market growth of magnesium sheet.”

Sang-Ho Cho said “We will be able to accelerate magnesium applications into the automotive industry and other industries through strong R&D collaboration with Magnesium Elektron and I believe that in the near future we will see as many magnesium applications in our daily life as we do aluminium applications.”