Sumitomo Metals Launches Permanent Magnetic Retarder JV in Germany

Sumitomo Metal Industries announced on Friday the firm established a joint venture, named Voith Turbo SMI Technologies, with German transport machine maker, Voit Turbo GmbH & Co. KG to supply permanent magnetic retarders to European market. The joint company will develop new model retarders with compact size or lighter weight and start the production in 2010. The JV will sell permanent magnetic retarders to truck and bus makers and aim the sales at 10,000 sets per year in 2012.A permanent magnetic retarder is a brake assist system for large-size cars, used as an alternative of an exhaust brake for CO2 emission or improvement of fuel efficiency. Permanent magnetic retarders are adopted in 40% cars in Japan. Sumitomo Metals accounted for about 80% of all permanent magnetic retarders in Japan.In Europe, the adoption is increasing. Voit Turbo GmbH & Co.KG supplies permanent magnetic retarders to over 16t class trucks or buses. Sumitomo metals will produce and sell the retarders in Germany for 7.5-16t class tracks or buses.The JV’s capital is 1.1 million euro, 51% shared by Voit Turbo GmbH & Co.KG and 49% by Sumitomo Metals. Sumitomo Metals established the overseas base of permanent magnetic retarder business for the first time.