Platinum by-passed by Ford
NZPA-Reuter Detroit The Ford Motor Company has developed a substitute for costly platinum in catalytic converters used to clean motor emissions.
Ford’s chairman, Mr Donald Petersen, in a speech in Pittsburgh, said the substitute was just as effective as platinum, but was significantly cheaper. A Ford spokesman, Mr Bill Peacock, refused to disclose the material, but said the company would realise a substantial savings a car by using the substitute.
The platinum-free catalytic converters are being installed first on 40,000 to 50,000 1989 Ford Thunderbird and Cougar models to be sold in California, said Mr Peacock.
Car makers have tried for years to find a substitute for platinum, which is mainly produced by South Africa, the Soviet Union and Canada.
The precious metal reacts with emissions inside the catalytic converter to change them into safe levels of pollutants.
Platinum 5 futures tumbled on the announcement. The January contract was down SUS2S at $U5579.50 on the New Yor* Mercantile Ex- i change. |
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Press, 19 December 1988, Page 34
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165Platinum by-passed by Ford Press, 19 December 1988, Page 34
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