Artificial magnetic heterostructures and superlattices have received much a
ttention in recent years because of their scientific and technological rele
vance. Heterostructures consist of different material layers promising join
tly to display physical properties different from any of their single layer
s. Paramagnetic layers sandwiched between ferromagnetic films are an excell
ent example of a magnetic heterostructure, since together they display an o
scillatory exchange coupling as a function of the paramagnetic spacer thick
ness not present in any single layer. The strength of the exchange coupling
and the oscillation period depend on the details of the Fermi surfaces inv
olved, whereas the overall features of the exchange coupling appear univers
al. More complex couplings are observed for magnetic superlattices with Cr
spacer layers. This is due to the intrinsic spin-density wave state of Cr.
Extensive experiments with synchrotron and neutron radiation have recently
unravelled the Nt el state of thin Cr layers and proximity effects between
Fe and Cr, elucidating the mutual interdependence of the Cr spin structure
and the Fe exchange coupling. In Co/Cr superlattices the structural mismatc
h between hcp Co and bcc Cr adds another complexity, which affects strongly
the magnetic anisotropy. Utilizing the different coercivities of Co and Fe
layers, spin valve systems can be constructed from Co/Cr/Fe heterostructur
es. Both the current status and some future perspectives are briefly review
ed here.