SSAB is investing $350 million in a new hardening line in Ukselesund

Swedish steelmaker SSAB is investing 3.3 billion Swedish kronor, or about $350 million, in the construction of a new Q&T hardening line at its site in Ukselesund. The project is intended to expand SSAB Special Steels’ capacity for producing its most profitable products and support its strategy of strengthening its leadership in the premium steel segment, according to a press release.

The investment is spread over four years and is included in the strategic capital expenditure program presented by SSAB at Capital Markets Day in 2025. Production is scheduled to begin in 2030.

The new hardening line will be key to further growth in the high-strength wear-resistant and protective steel segments, particularly Hardox 500Tuf and Armox. According to the company’s estimates, the project will initially add approximately 100,000 tons of production capacity, enabling SSAB to serve customers with the most demanding technical requirements.

“Global demand for protective steel is growing, and SSAB’s unique offering ensures our leadership position among defense industry customers. In addition, strong growth continues in other segments of advanced steels, particularly wear-resistant steels,” noted Per Elfgren, Head of SSAB Special Steels.

The company emphasizes that the development of special steel grades is one of the key elements of SSAB’s strategy to accelerate its leadership in the premium segment. Unlike traditional steels, Hardox wear-resistant plate allows for the creation of stronger and lighter structures, increases payload capacity, extends equipment uptime, and reduces fuel consumption.

According to SSAB, Armox is the market leader in the high-quality armor steel segment and offers a wide range of solutions for both civilian and defense applications. The company views the growing demand for such products as a key driver of future profitability for SSAB Special Steels.

As a reminder, SSAB increased its steel production to 2.01 million tons in the first quarter of 2026, a 3.3% increase compared to the same period last year. At the same time, rolled steel production rose by 5.2% year-over-year to 1.87 million tons. Total steel shipments reached 1.74 million tons, a 3.6% increase year-over-year.