Due to the purchase of the company, the Swedes plan to expand their presence on the Latin American market
The Swedish steel company SSAB announced the acquisition of the Mexican special steel producer Astralloy. It is reported by Yeih.Corp.
Astralloy specializes in innovative solutions for wear-resistant steel. Due to the purchase of the company, the Swedes guarantee their participation in the local market of wear-resistant steel, and position themself as a leading company in Latin America.
“Mexico plays an important role in SSAB’s growth, both in terms of sales volume and number of customers. In addition, the Swedish steel company is associated with a high percentage of the Mexican market,” commented Arturo Rivas, Regional Sales Manager for Special Steels/Mining at SSAB.
As GMK Center reported earlier, in 2020 SSAB, energy concern Vattenfall and mining company LKAB opened the first steel plant without using fossil fuel HYBRIT.
The steel production technology at the HYBRIT plant involves the replacement of fossil fuels in the steel production chain. Coking coal and metallurgical coke are replaced by green hydrogen, which is produced using clean electricity.
Later, Volvo signed a memorandum on cooperation with SSAB in the field of research, development, serial production and sales of the world’s first cars made of green steel. In August 2021, Volvo received the first batch of green steel.
Already in June 2022 Volvo CE set to Swiss construction concern Nordic Construction Company the world’s first dump truck made of SSAB green steel.