Swedish SSAB will build an environmentally friendly mini-plant in Luleå

The implementation of the project involves stopping the current production system based on the blast furnace
SSAB has started construction of an electric arc furnace in Okselesund

Investments in the project will amount to about $600 million
SSAB and CorPower Ocean will cooperate in the field of renewable energy

CorPower Ocean will use green steel from SSAB to build the wave power plant
SSAB is considering possible staff reductions in Finland

The Finnish unit will begin negotiations with the unions due to low demand
SSAB increased its steel supply by 2.5% y/y in the first half of 2023

The company increased consolidated product shipments by 0.6% y/y in Q2
SSAB is considering temporary layoffs at its facilities in Finland

Change negotiations will last at least six weeks
SSAB invests $571.8 million in the green transformation of production

The funds will be invested in a new electric arc furnace and processing of raw materials
SSAB expects stable demand for steel in the second quarter

The company's operating profit in January-March 2023 amounted to SEK 4.73 billion
SSAB presented its development strategy until 2030

The company plans to increase profits thanks to the green transition and premium products