Development and implementation of new technologies in the steel industry

Abstract

At each successive stage in the R&D cycle leading to the commercialization of a new technology, management in any industry must reevaluate prospects and make decisions accordingly. However, for the steel industry the difficulties of this kind of decision-making throughout the usually lengthy R&D cycle are heightened by the very nature of the industry. For example, the large scale of its processes and the high capital costs for plants for new processes mean that the progressive scale-ups during a given development may themselves cost millions. From Bethlehem Steel's experience the author cites one new product and two major process developments to illustrate technical and economic considerations that enter into decision-making as R&D moves step by step toward the commercialization of new technology.