NEWS
IRON and STEEL  

Posco signs memorandum with GE for smart factories

Posco, South Korea’s top steelmaker by sales, inked a memorandum of understanding with US-based conglomerate GE to develop a hybrid smart factory platform aimed at heightening efficiency of steel mills, the company said Tuesday.

The hybrid smart factory platform PosFrame+ is to be a combination of steelmaker’s PosFrame smart factory platform alongside GE’s representative smart factory solution Asset Performance Management.

“Developing smart technology for facilities will serve as a momentum-triggering smart solution business in the global market,” said Posco Chairman Kwon Oh-joon.

The signing took place at Posco Center in southern Seoul on Monday in the presence of Kwon, Wouter Van Wersch, CEO of GE’s Asia-Pacific region, Posco ICT President Choi Doo-hwan and Matthias L. Heilmann, chief digital officer of industrial service company Baker Hughes, a GE Company.

PosFrame compiles and analyzes information gathered while producing steel products, the company said.

GE’s Asset Performance Management system sends early warnings based on a failure prediction system, helping maintain optimal facility condition and operation rate.

The system restarted a combined cycle power plant in Turin, Italy, which had been shuttered for two years on low profitability.

Posco said, it expects PosFrame+ to boost efficiency and safety of steel factories.

Posco Chairman Kwon Oh-joon (left) attends a photo session with related officials after signing a memorandum of understanding for hybrid smart factory platform development in Seoul on Monday. (Posco)

 

News No: 1938
Date: 2018/02/13 - 23:05
News Source: Korea Herald

POSCO  GE  hybrid smart factory platform  Wouter Van Wersch  Choi Doo-hwan 

Comments:

Leave a Comment:

   
   
   
 

US Nuclear Deal Pullout Bitter Blow to European Businesses

US President Donald Trump’s decision to exit the Iran nuclear deal and reinstate sanctions could cost some of Europe’s biggest companies billions.
 

Following US Withdrawal From JCPOA: All Quiet on Tehran Stocks Front

US President Donald Trump finally delivered on his campaign promise to pull out of the 2015 Iran nuclear deal on Tuesday night.
 

Iran replaces dollar with euro in financial reporting

The Iranian cabinet on Wednesday ordered all state-run organizations and companies to replace U.S. dollar with euro in reporting their financial statements
 

This is the only chart lithium price bears need see

A month ago Morgan Stanley sent shares of lithium producers and explorers tumbling after the investment bank forecast growing surplus in the market starting as soon as now, resulting in forecast prices halving from today’s levels.
 

Russia fears light fire under nickel price

Nickel surged to a more than three-year high amid growing fears that Russia's Norilsk Nickel, top producer of the metal, could be the next victim of US sanctions against Russia that has already caused chaos on aluminum markets.
 

IKCO Short-Term Strategy

Iran Khodro is looking to expand its footprint in the new Iranian year which started in March by taking steps toward the optimization of the enterprise.
Upcoming Events
Find a Job !
Tenders
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners