NEW YORK NanoSteel Co.
has appointed automotive industry veteran Bob Lutz to its board
of directors in a move it says brings big-name support to the
companys 10-year project to develop a new family of
"Bobs commitment to the
company is a testament to the unique opportunity that our
nano-structured sheet steel solutions will bring to the
automotive industry," president and chief executive officer
David Paratore said in a statement.
Lutz previously held a number of
leadership roles in the automotive sector, including executive
vice president at Ford Motor Co. and president of Chrysler
Corp. He most recently served as vice chairman of global
product development at General Motors Corp., from which he
retired in 2010 but remains an advisor.
"The experience he brings to the
table is so large, its a one-person shop as far as
offering insights into automotive," Paratore told
NanoSteels focus is developing a high-strength, ductile
steel alloy for commercial use in the automotive industry as
companies move toward lightweight materials. The company, which
gained an investor in General Motors Ventures LLC in August (
amm.com, Aug. 6), aims to send material to GM for
validation before the end of the year, Paratore said.
Lutz said in a statement that he
was impressed with NanoSteels design and its implications
for auto production.
"The use of NanoSteels
breakthrough AHSS (advanced high-strength steel) could drive
efficiencies across the supply chain by leveraging existing
steel infrastructure and parts production," he said.
Lutz told AMM in an e-mail that he was
impressed with NanoSteels design and its implications for
auto production, saying he expects "all major companies will
follow suit" if GM uses the new technology.