DEVELON

Doosan Infracore and POSCO signed a memorandum of understanding on technology cooperation for the development of materials for construction equipment and their application, on October 17.

The two companies plan to develop materials that can create high added value and help save costs through information sharing and the analysis of product materials. They also agreed to apply any new materials to those products that will be created through their joint research and development efforts.

POSCO has been conducting an EVI(early vendor involvement) program, in which it invites global clients to participate in its production process, from the product development phase, and thereby will produce customized products catering to customers’ needs. The MOU has been signed as part of the initiative.

Doosan Infracore and POSCO have been engaging in research on abrasion-resistance steel for excavator buckets through regular technology exchange meetings from 2011. With the signing of the MOU, the two companies plan to boost cooperation and expand the scope of their collaborative research on new materials and processes for construction equipments.