BUSINESS

Posco signs memorandum with GE for smart factories

By Kim Bo-gyung
  • Published : Feb 13, 2018 - 15:18
  • Updated : Feb 13, 2018 - 19:02
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.

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)

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.

By Kim Bo-gyung (lisakim425@heraldcorp.com)

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