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The demands on valve seat insert materials, in terms of providing greater wear-resistance at higher temperatures, enhanced machinability and using non-environmentally hazardous materials at a reasonably low cost have intensified in recent years. Due therefore to these strong demands in the market, research was made into the possibility of producing a new valve seat insert material. As a result a high speed steel based new improved material was developed, which satisfies the necessary required demands and the evaluation trials, using actual gasoline engine endurance tests, were found to be very successful.