Corporate die casting news
LG Electronics (LG) has announced it will replace all conventional magnesium inside its mobile phones with Eco-Magnesium, a new type of clean magnesium alloy, by 2012. The decision will reduce greenhouse gas emission by a factor of approximately 24,000 during the die casting process without affecting the quality of the final product. The Korea Institute of Industrial Technology (KITECH) developed Eco-Magnesium with funding from the government of Korea. During production, Eco-Magnesium creates practically no sulfur hexafluoride (SF6), which the Intergovernmental Panel on Climate Change (IPCC) cites as one of the most potent greenhouse gas ever encountered. Replacing conventional magnesium with Eco-Magnesium in mobile phones will reduce carbon dioxide emissions by 4 kg for every handset LG produces. On Nov. 29, LG signed a memorandum of understanding with the three producers of Eco-Magnesium — HK High-Tech Co., Keumgang Coen and Hallacast Co. As part of the agreement, LG will provide the three companies with training in the practice of carbon credit trading and technological support. The MOU promises to help LG greatly reduce its greenhouse gas emissions and earn valuable carbon credits. “Eco-Magnesium is one of LG’s key strategies in our ongoing effort to transform LG into a leader in more environmentally responsible manufacturing,” said H.S. Paik, president of LG Electronics Gulf. “This transition to Eco-Magnesium will allow LG and our customers to play a small but significant role in making the world cleaner for future generations.”
Foulath
Bahrain-based Gulf United Steel Holding Company (Foulath), a major global steel investment vehicle and holding company and the world’s first fully integrated steel producer, has been selected to take part in the international TV broadcast, “World’s Greatest,” which will feature the Company’s uniquely-built windbreaker fence that has been developed by Foulath in line with its ongoing efforts to protect the environment in which it operates. “World’s Greatest” is a fast-paced tour around the world featuring behind-the-scenes footage and interviews on some of the most amazing and unique companies, products, people, structures and travel destinations the world has to offer. Khalid Al Qadeeri, vice chairman and MD of Foulath, said: “Foulath and its subsidiary companies are dedicated to the protection of the environment and have spent in excess of $20 million to date on the development, implementation and maintenance of state-of-the-art environmental technologies and projects. Our initiative to build the windbreaker reflects these continuous efforts to operate in a clean environment and to protect and safeguard the land, water and air quality of the surrounding areas and communities in which we operate.” Wind both causes and spreads dust potentially causing environmental disruption and damage. Foulath’s windbreaker fence has been designed and engineered to minimize the spread of dust within and around Foulath’s facilities. “World’s Greatest” was initially aired to US audiences on Dec. 6 and thereafter on select channels worldwide.
KAEC
A subsidiary of Greif Inc., through a joint venture with Saudi Arabia’s National Scientific Company (NSC), will set up a manufacturing facility to produce polypropylene woven fabric at King Abdullah Economic City (KAEC) Industrial Valley. The new facility will be the largest of its kind in the Middle East extending on an area of 188,000 sq. m. The PPP fabrics are a main component used in the production of flexible industrial packaging, planned to be manufactured and sold globally by the JV through the factory in KAEC’s Industrial Valley. The facility will commence production in phase one by early 2012. When operating at full capacity by 2016, the planned facility will create many new jobs, and will enable the Kingdom’s production capacity of the polypropylene fabric to reach 10 percent of global manufacturing. “This facility is part of Greif’s growth strategy to diversify and further serve the global industrial packaging market,” said Michael Gasser, chairman and CEO of Greif. “With this agreement, our polypropylene fabric business will be located in a strategic location next to a world-class seaport which will serve as a gateway to the world market.” David Fischer, president and COO of Greif, said: “We were impressed with the ease of doing business in KAEC.” Fahd Al-Rasheed, MD and CEO of EEC, the Tadawul-listed company developing KAEC, said: “The KAEC is continuing to attract giants from various industries.”
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