SSAB announces plans to invest up to $100 million in Alabama steel mill operation

SSAB announces plans to invest up to $100 million in Alabama steel mill operation

Mobile, AL (Oct. 26, 2018) – SSAB has announced plans to invest up to $100 million USD at its steel operations in Mobile, Alabama. The planned investment aims to increase production capacity for high-strength, value-added steels, including quenched and tempered (Q&T) steels, while increasing operational efficiency and reducing raw material costs. Proposed improvements at the mill will take place between 2019 and 2021 and will increase the potential capacity of high-strength steel production in Mobile by 130,000 tonnes per year.
Plans include installation of a new accelerated cooling system that will reduce the need for alloys in the production process. Depending on the timing, priority and scope of investments, the Mobile expansion could create up to 50 new, well-paying jobs at the site.

“This announcement demonstrates SSAB’s commitment to our Alabama operations and to our valued customer base in North America, as well as those customers we serve globally,” said Chuck Schmitt, President of SSAB Americas. “With this planned investment, we not only increase our production, but improve our quality and efficiency performance as well.”
The planned investments are targeted to a number of areas, including the rolling mill, formatting, blasting and painting, as well as overall shipping capacity. The announcement follows a history of SSAB investment in Alabama, beginning with the initial investment to build the mill, followed over the years by continued investments, upgrades and expansions all totaling more than $820 million.

“We have a long history of successful investment in Alabama, all with great cooperation and partnership with state, county and local agencies.” said Schmitt. “It’s a track record of success, and we aim to continue the partnership. With these new investments, we have a unique opportunity now to work with local and state level officials to build upon our success even further.”

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SSAB is a Nordic and US-based steel company. SSAB offers value added products and services developed in close cooperation with its customers to create a stronger, lighter and more sustainable world. SSAB has employees in more than 50 countries, with production facilities in Sweden, Finland and the US. SSAB is listed on the NASDAQ OMX Nordic Exchange in Stockholm and has a secondary listing on the NASDAQ OMX in Helsinki. For more information, please visit www.ssab.com.

2018-10-30T14:23:40+00:00