NEW YORK — NanoSteel Co. has named Craig Parsons president of its automotive business as the company moves toward commercial production of its new advanced high-strength steel (AHSS) sheet.
In the newly created position, Parsons will promote NanoSteel’s products to automotive and Tier I original equipment manufacturers (OEMs), the Providence, R.I.-based company said Wednesday.
Parsons told AMM he will especially seek to attract international customers for the company’s new automotive product line.
"One thing I’ve recognized is the need for a global supply chain solution," Parsons said. "We recognize this has to be scalable and usable in multiple regions around the world."
Parsons previously served as president of automotive steel blanks producer Noble International Ltd., and most recently as vice president of sales and business development at stamping company Gestamp North America Inc.
NanoSteel, which already supplies surface coatings in the energy and mining sectors, has recently been focusing on developing a high-strength, ductile steel alloy for commercial use in the automotive industry as companies move toward lightweight materials.
General Motors Ventures LLC, a division of General Motors Co. that invests in automotive technologies, announced earlier this year that it had invested in NanoSteel (amm.com, Aug. 6). NanoSteel aims to send the material to GM for validation before the end of the year.
"We’ve gotten lot of interest from Tier I suppliers and the OEMs," Parsons said, declining to name specific companies it has connected with besides GM Ventures.
Parsons said NanoSteel’s product is a more cost-effective material than aluminum for use in vehicles when it comes to lightweighting.
"(Aluminum) is expensive and there isn’t enough," said Parsons. "Making a car that gets 50 miles per gallon, the automakers could do it tomorrow. But it’d be a car no one could afford."
But it’s not aluminum Parsons said the new product will primarily look to compete against—it’s traditional automotive steels.
"(Automakers) need alternatives to the more traditional high-strength steels. They need higher-strength steels, and that’s exactly what we’re offering them," he said.