POSCO announced on Oct. 7 that it will strengthen technical cooperation with global company Exxon Mobil to expand the application of the world's first mass-produced high manganese steel to the market.
The two companies held a business agreement ceremony to develop high manganese steel and accelerate its application to the market by connecting Exxon Mobil RE (Research & Engineering Co.) of New Jersey and Exxon Mobil URC(Upstream Research Co.) of Texas with POSCO Research Co. The agreement was carried out on a non-face-to-face online basis due to the COVID-19 pandemic.
Lee Deok-rak, president of POSCO's Institute of Technology, Tristan Aspray, CEO of Exxon Mobil URC, and Vijay Swarup, vice president of Exxon Mobil RE, promised to cooperate in developing technologies to expand the application of high manganese steel to overseas LNG projects.
The attendance of RE executives, which are in charge of basic research of materials, and URC executives responsible for field application of new materials provided an opportunity to accelerate commercial development of high manganese steel.
The two companies will first push for the application of high manganese steel for cryogenic use to storage tanks to be built on the global LNG project that Exxon Mobil will place in the future.
At the signing ceremony, Tristan Aspray, CEO of Exxon Mobil, said, "We look forward to strategic and long-term technical cooperation by bringing together Exxon Mobil's expertise in metal-use technology and POSCO's world-class steel technology."