SSAB

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Swedish multinational steel company

title: "SSAB" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["manufacturing-companies-established-in-1978", "steel-companies-of-sweden", "companies-listed-on-nasdaq-helsinki", "companies-listed-on-nasdaq-stockholm", "swedish-brands", "ironworks-in-sweden", "1978-establishments-in-sweden", "manufacturing-companies-based-in-stockholm"] description: "Swedish multinational steel company" topic_path: "geography/sweden" source: "https://en.wikipedia.org/wiki/SSAB" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary Swedish multinational steel company ::

::data[format=table title="Infobox company"]

FieldValue
nameSSAB AB
logoSSAB.svg
logo_size200px
typePublicly traded Aktiebolag
traded_asNasdaq Stockholm: SSAB A, SSAB B
Nasdaq Helsinki: SSABAH, SSABBH
ISIN{{Unbulleted list
{{ISINsl
{{ISINsl
foundation
locationStockholm, Sweden
key_people{{Plainlist
industrySteel
revenue(2024)
operating_income(2024)
net_income(2024)
assets(2024)
equity(2024)
ownerLKAB (10.85%)
Government of Finland (6.5%)
num_employees14,618 (2024)
homepage
::

| name = SSAB AB | logo = SSAB.svg | logo_size = 200px | type = Publicly traded Aktiebolag | traded_as = Nasdaq Stockholm: SSAB A, SSAB B Nasdaq Helsinki: SSABAH, SSABBH | ISIN = {{Unbulleted list | | | foundation = | location = Stockholm, Sweden | key_people = {{Plainlist|

  • Lennart Evrell (Chairman)
  • Johnny Sjöström (President and CEO) | industry = Steel | revenue = (2024) | operating_income = (2024) | net_income = (2024) | assets = (2024) | equity = (2024) | owner = LKAB (10.85%) Government of Finland (6.5%) | num_employees = 14,618 (2024) | homepage = SSAB AB (SSAB A, SSAB B), earlier Svenskt Stål AB (), is a Swedish company, formed in 1978, that specialises in producing steel. The largest shareholders are the Swedish state-owned mining company LKAB, and the Government of Finland.

History

::figure[src="https://upload.wikimedia.org/wikipedia/commons/0/07/Luleå_-KMB-_16000300039843.jpg" caption="SSAB facilities in Luleå"] ::

Svenskt Stål AB was established on 1 January 1978, following a Swedish parliamentary decision to merge three struggling steel companies: Domnarvets Ironworks, Norrbottens Järnverk AB (NJA), and Oxelösunds Ironworks. The merger was proposed by a government-led investigation to consolidate Sweden's struggling steel industry.

At its founding, SSAB was 50% owned by the Swedish state and 25% each by Gränges and Stora Kopparberg. Björn Wahlström, managing director of NJA, led the merger negotiations and became SSAB's first managing director. The company initially employed approximately 18,000 workers across various operations.

Restructuring and profitability (1980s)

The initial years were financially challenging, with losses recorded between 1978 and 1981. The company restructured by closing unprofitable operations and focusing on specific products and locations. In 1982, SSAB reported its first profitable year. Ownership changes followed, with Stora selling its stake to the Swedish state in 1981, and Gränges being acquired by Electrolux. SSAB further focused on steel production and was listed on the Stockholm Stock Exchange in 1989.

In 1987, a new restructuring plan led to the concentration of production within certain areas. The company formed subsidiaries SSAB Tunnplåt AB (for thin sheet steel production) and SSAB Oxelösund AB. A third subsidiary, SSAB Profiler, was also established but later sold to Ovako Steel. The Domnarvet electrosteel plant was closed in 1989, moving focus to continuous casting from Luleå.

Expansion and modernisation (1990s)

Following its stock market listing, the Swedish state gradually reduced its own ownership in SSAB, fully divesting direct ownership by 1992. The same year, SSAB acquired Korrugals band-coating line in Finspång and introduced the "Sträng 5" continuous casting line in Luleå. In 1993, a CAS-OB facility was established in Luleå, and SSAB Laminated Steel AB in Ronneby was integrated into SSAB Tunnplåt. Significant investments included a new pre-rolling mill in Borlänge in 1999 and a new blast furnace (Masugn 3) in Luleå in 2000.

International expansion (2000s–2010s)

In 2008, SSAB acquired the American steel producer IPSCO, which operated mills in Montpelier, Iowa, and Mobile, Alabama. These facilities focused on scrap-based steel production using electric arc furnaces rather than blast furnaces.

In 2014, SSAB acquired Finnish steel producer Rautaruukki for €1.1 bn. The acquisition increased SSAB's steel production capacity by 2.6 million tons. Following the merger, Finnish state-owned Solidium became SSAB's third-largest shareholder after Industrivärden and LKAB. Key Rautaruukki production facilities that remained operational included the steel plant in Raahe and the sheet and pipe manufacturing facility in Hämeenlinna.

Sustainability initiatives (2020s)

In 2021, SSAB produced the world's first fossil-free steel using hydrogen instead of coke-based processes. The steel was delivered to Volvo Group for testing.{{Citation | last =Frangoul | first =Anmar | title ='World's first fossil-free steel' produced in Sweden and delivered to Volvo | publisher =CNBC | date =19 August 2021 | url =https://www.cnbc.com/2021/08/19/first-fossil-free-steel-produced-in-sweden-delivered-to-volvo.html | access-date =7 September 2021 }} Today, SSAB operates under three main divisions: SSAB Special Steels, SSAB Europe, and SSAB Americas. It also owns subsidiaries Ruukki Construction and Tibnor. The company's product brands include SSAB Domex, Hardox, Docol, GreenCoat, Armox, and Toolox.

SSAB also sponsors the Swedish Steel Prize and has been involved in various government-supported research programs, such as the "Steel Eco-System" initiative.

In 2024, SSAB announced that it would build its €4.5 billion fossil-free steel mill in Luleå, Sweden, rather than in Raahe, Finland. The decision, which was made after considering both locations, is expected to reduce Sweden's carbon dioxide emissions by 7% upon completion in 2028.

Operations

SSAB has its production sites in Sweden, Finland, and the United States. The company also maintains smaller operations elsewhere, including a processing facility in Kunshan near Shanghai, China. and distribution hubs in the Baltic region.

Sweden

::figure[src="https://upload.wikimedia.org/wikipedia/commons/5/58/SSAB_Oxelösund.jpg" caption="SSAB in Oxelösund"] ::

The production is located at Luleå, Borlänge, Oxelösund and Finspång. SSAB is the largest steel sheet manufacturer in Scandinavia, with its blast furnace, coking plant, and steelworks located in Luleå and its rolling mills and coating plants in Borlänge—the initial product is sent from one location to the other via train. The division also has a coil coating line, lamination line, and special steels production. SSAB Special Steels in Oxelösund is the only steelworks in Sweden to have its entire vertical production base in one place, from raw material handling to its rolling plates. Ninety percent of its production is exported, with its chief export partner being Germany. SSAB produces nearly all of the steel plates created in Sweden.

Finland

SSAB operates two major steel production facilities in Finland, located in Raahe and Hämeenlinna. The Raahe plant, originally established as Rautaruukki in the 1960s to support Finland's heavy industry, is one of the youngest integrated steel plants in Europe. It began operations with its first blast furnace in 1964, followed by an LD steel plant and rolling mills in the subsequent years. The Hämeenlinna facility, which started production in 1972, specialises in processing steel into coated products, including galvanised steel for industries such as automotive manufacturing. It employs approximately 1,000 people. The headquarters for SSAB Europe Oy are located in Hämeenlinna.

North America

::figure[src="https://upload.wikimedia.org/wikipedia/commons/1/14/Jerry_Carl_visits_SSAB_-_May_2021_02.jpg" caption="Congressmember [[Jerry Carl]] visiting SSAB in [[Axis, Alabama]], in 2021"] ::

IPSCO Inc. began as Prairie Pipe Manufacturing Co., Ltd. in Regina, Saskatchewan in 1956, changing its name to Interprovincial Steel and Pipe Corporation, Ltd. in 1960 and IPSCO, Inc. in 1984;

As of 2000, IPSCO had used mini mills to produce flat-rolled steel for 40 years. Late in 2001, the company officially opened an Axis, Alabama, mill (in the Mobile area), with a capacity of 1,250,000 tonnes,. The $US425 million rolling mill, with mill stand housings believed to be the largest one-piece cast mill housings in the world at 350 tons each, On 21 October 2008, SSAB announced a $US460 million expansion of the Axis mill to be completed in 2011. The mill already had 400 employees and 350 contractors.

In May 2007, a deal to acquire IPSCO for $US7.7 billion was announced. On 17 July 2008, SSAB announced the completion of the deal. John Tulloch succeeded the retiring David Sutherland as IPSCO president and became an executive vice president of SSAB.

On 17 March 2008, Evraz Group SA announced it would buy SSAB's Canada pipe and plate business and the steel tube business of the American IPSCO unit for $US4.3 billion after steel prices rose and the dollar fell. Evraz also planned to sell some of the American assets for $US1.7 billion to OAO TMK. IPSCO had 4300 employees, with 70% of its operation in the United States and 30% in Canada.

After the sale, SSAB changed the name of its North American operation to SSAB North American Division (NAD), then later to SSAB Americas; headquarters stayed in Lisle, Illinois, USA. Included in this division were steel operations in Mobile and Montpelier, and cut-to-length lines in St. Paul, Minnesota and Houston, Texas; and Toronto, Canada. David Britten succeeded Tulloch as president. Paul Wilson, with 36 years of industry experience, ten of those with SSAB including management of Mobile's steel operation, became the vice president in charge of the American steel operations. In 2018 the SSAB Americas division relocated its headquarters to Mobile, Alabama.

Brands

SSAB's major brands include:

  • Hardox
  • Strenx
  • Docol
  • GreenCoat
  • Toolox
  • Armox
  • SSAB Boron
  • SSAB Domex
  • SSAB Form
  • SSAB Laser
  • SSAB Weathering
  • SSAB Multisteel
  • Hardox in my Body
  • My Inner Strenx
  • Hardox Wearparts

Carbon footprint

SSAB reported Total CO2e emissions (Direct + Indirect) for 31 December 2020 at 9,989 Kt (−766 /-7.1% y-o-y). This is a higher rate of decline than over the period since 4Q'14 (−1.1% CAGR).

::data[format=table title="SSAB's Total [[carbon footprint|CO2e emissions]] (Direct + Indirect) (in kilotonnes)"]

Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
10,79810,58111,15411,08310,93810,7559,989
::

References

References

  1. "SSAB A, SSAB A, (SE0000171100)". NASDAQ.
  2. "SSAB B, SSAB B, (SE0000120669)". NASDAQ.
  3. (29 January 2025). "Report for Q4 and full-year 2024". SSAB AB.
  4. "Shareholders SSAB".
  5. (12 January 1978). "Prop. 1977/78: 87 Regeringens proposition 1977/78: 87 om statligt engagemang inom handelsstålsindustrin, m. m.;". Riksdagen.
  6. (31 March 1977). "Handelsstålsindustrin inför 1980-talet - Betänkande av handelsstålsutredningen - SOU 1977:15". Industridepartementet, Handelsstålsutredningen.
  7. C. D. Skillings. (1986). "SSAB News". Skillings' Mining Review.
  8. (1996). "Privatization and changing ownership in the steel industry". United Nations. Economic Commission for Europe.
  9. (19 January 2018). "Supply Network Strategies". John Wiley & Sons.
  10. Affärsvärlden nr 16 år 2021, sida 12
  11. (22 January 2014). "Steelmaker SSAB to buy Nordic rival Rautaruukki for $1.6 billion". Reuters.
  12. "SSAB in brief".
  13. (22 January 2014). "Swedish steel company SSAB in $1.6 billion bid to merge with Finland's Rautaruukki".
  14. "SSABb.ST – SSAB AB Profile".
  15. (13 May 2016). "Corporate Responses to EU Emissions Trading: Resistance, Innovation or Responsibility?". Routledge.
  16. Teivainen, Aleksi. (8 April 2024). "SSAB chooses Sweden over Finland as location for €4.5bn fossil-free mill".
  17. "SSAB Locations".
  18. "Carbon Steel Products from Australia, Belgium, Brazil, Canada, Finland, France, Germany, Japan, Korea, Mexico, the Netherlands, Poland, Romania, Spain, Sweden, Taiwan, and the United Kingdom, Volume 1 Determination and Volume 2 Information, Invs. AA1921-1". DIANE Publishing.
  19. (1 March 2006). "BAT examples from the Nordic iron and steel industry". Nordic Council of Ministers.
  20. "Carbon Steel Products from Australia, Belgium, Brazil, Canada, Finland, France, Germany, Japan, Korea, Mexico, the Netherlands, Poland, Romania, Spain, Sweden, Taiwan, and the United Kingdom, Volume 1 Determination and Volume 2 Information, Invs. AA1921-1". DIANE Publishing.
  21. "SSAB Raahe – The Beauty of Steel".
  22. (17 January 2022). "SSAB:n Hämeenlinnan tehdas on toiminut jo 50 vuotta – työllistää nykyään noin tuhat henkilöä".
  23. (2 November 2017). "40 vuotta maalipinnoitusta SSAB:n Hämeenlinnan tehtaalla".
  24. "Company Profile -IPSCO". LinkedIn.
  25. "Certain Oil Country Tubular Goods from China, Invs. 701-TA-463 and 731-TA-1156-1159 (Preliminary)". DIANE Publishing.
  26. (8 May 2000). "IPSCO Steel (Alabama) Construction Proceeds on Schedule; World's Largest Mill Stands Set in Place". [[Business Wire]].
  27. (10 December 2001). "IPSCO Steel Officially Opens $425 Million Alabama Mini-Mill". siteselection.com.
  28. (22 December 1998). "IPSCO Inc. – Subsidiary Selects Site for State-of-the-Art Steelworks". [[Business Wire]].
  29. (8 April 2008). "IPSCO plans multi-million dollar plant". [[Muscatine Journal]].
  30. Amy, Jeff. (22 October 2008). "SSAB steel mill in Axis, Ala., to expand by $460m". [[Press-Register]].
  31. (30 May 2007). "Sweden's SSAB wants to sell Ipsco tube unit". [[Reuters]].
  32. (17 July 2007). "SSAB Successfully Completes Acquisition of IPSCO". ThomasNet.
  33. (17 March 2008). "Evraz Agrees to Buy SSAB Units for $4.03 Billion". AllBiz.
  34. (14 March 2008). "Russian steel maker Evraz grows in North America". [[USA Today]].
  35. (16 June 2008). "SSAB Rolls out New Name, New Leadership for North American Operations". steelnews.com.
  36. Lane, Keith. (19 October 2017). "SSAB steel company to relocate head office to Mobile".
  37. "SSAB's Annual Report 2019".
  38. "SSAB's Sustainability Report for 2020Q4".
  39. "SSAB's Sustainability Report for 2018Q4".
  40. "SSAB's Sustainability Report for 2019Q4".
  41. "SSAB's Sustainability Report for 2020Q4".
  42. "SSAB's Sustainability Report for 2020Q4".
  43. "SSAB's Sustainability Report for 2020Q4".
  44. "SSAB's Sustainability Report for 2020Q4".

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manufacturing-companies-established-in-1978steel-companies-of-swedencompanies-listed-on-nasdaq-helsinkicompanies-listed-on-nasdaq-stockholmswedish-brandsironworks-in-sweden1978-establishments-in-swedenmanufacturing-companies-based-in-stockholm