Global maker of materials and parts for ship engine
A company that dreams of jumping up to a global, specialized maker of shipbuilding parts and machine modules, on the basis of technology and experience in key parts and materials of diesel engine accumulated over the past 35 years. Such is the ambitious management objective of STX Metal headquartered in Nae-dong, Changwon, South Gyeongsang Province.
STX Metal, a maker of key parts and components of diesel engine that can represent Korea in global markets with specialty in state-of-the-art materials, has four factories, including one in Changwon.
Particularly, the company changed its name from STX Enpaco to STX Metal in March 2010 with a new resolve to “put its heart and soul in all products related with metallic materials,” and has since strived to maintain global competitiveness as well as secure new growth engine.
STX Metal boasts world’s top-class technological prowess in diesel engine materials and parts and machine modules. In the case of turbo chargers of diesel engine for ships, the company is the world’s No. 1 maker in both production volume and value, and takes the second- or third-largest share of global markets in crank shafts and cylinder liners for diesel engine.
Most of STX Metal’s anchor products have been selected as the world-class manufactured goods for the six straight years, helping to uplift the company’s reputation in global markets. These products are: turbo chargers for medium-speed diesel engine in 2005; crank shaft for medium-speed diesel engine in 2006; cylinder lines for large engines in 2007; hydraulic cargo pump systems in 2008; crank shafts for low-speed diesel engines in 2009; and turbo charger of large ship engines in 2010.
The company is also diversifying its business lines into renewable energy and other sectors on the basis of its technology in precision processing and related areas. It is not only stepping up research and development of hydrogen fuel cell, which has emerged as the blue chip of renewable energy, but is also laying the foundation for the next-generation growth industries, including the development of up-to-date materials and parts for gas turbines for aviation and other industrial purposes. In addition, the company has entered into the defense industry, as the government selected it as a priority negotiation partner for diesel engines and power generators with respect to the production of new landing ship truck (LST-II) in 2010.
CEO Yu Cheon-il said that STX Metal’s corporate goal is to attain annual sales of 2 trillion won or more, by diversifying its business areas into areas whose localization ratio still remains at a low level, including special equipment related to offshore projects, water-treatment equipment and ship boilers.
New labor-management culture
STX Metal is cited as a firm with an exemplary labor-management relationship. As the labor union has left wage-related decision to the management, the company has been free from labor disputes and strikes since 2004, and has received presidential citations as a model of industrial peace. In 2011, it was selected as a firm with “excellent labor-management culture,” and received the “Labor-Management Oneness Award” in June, demonstrating the company’s advanced labor culture.
Creating a warm-hearted world
STX Metal has made continuous efforts to give part of its profits back to regional communities. Among major activities in this regard are the “one-company-one-village” sisterhood campaign, corporate support for wetland preservation, school uniform donation and help for the disadvantaged.
The corporate-village sisterhood program is particularly famous for its brisk activities.
All subsidiaries of the STX Group have been providing volunteer services to regional communities through the one-company-one-village program. STX Metal set up a sisterhood with the Jeongam Village and helped it better cope with the opening of the domestic agricultural market and with abandonment of farming areas by younger generation.