Swedish specialty steel manufacturer SSAB has unveiled its strategic plan to accelerate the growth of premium steel offerings with a focus on the most attractive consumer segments, outlining ambitious goals to further advance the company along the value chain and increase profitability through leadership in the premium steel segment.
Strategic goals and milestones
According to the plan, by 2030, the share of high-quality steels in the total supply volume will be 65%, compared with 55% today and 75% by 2035. SSAB has also set itself the goal of achieving full-cycle EBITDA of about SEK 23 billion after 2030, compared with about SEK 14 billion in the previous cycle.
SSAB's new strategy is based on three growth levers: expanding the product range through the use of high-quality steels, improving value-added service solutions in the Ruukki and Tibnor networks, and expanding the supply of decarbonized steel. The company expects SSAB Europe to supply about one million tons of non-fossil fuel steel to consumers in key sectors within five years.
This strategy is based on large investments. A 4.5 billion euro mini-plant in Lulea, Sweden, will replace existing blast furnaces, significantly reducing air emissions and production costs. SSAB will also switch its plant in Raahe, Finland, to electric arc furnace production technology, which will bring production processes in line with the company's climatic requirements and increase flexibility in the selection of raw materials.
The transformation will also provide increased structural efficiency, lower production costs, and a more balanced product range in the automotive, construction, and heavy machinery industries.
Steelorbis.com
