SSAB is looking to expand its facility in Montpelier, Iowa, U.S.
ET | Source:SSAB AB
The potential expansion would increase melting and casting capabilities by up to
1.2 million tons above current melting capacity. This represents roughly an
additional 800,000 tons per year of finished product along with 400,000 tons of
melting capacity to be transferred as slab to SSAB’s Mobile facility for rolling
SSAB has entered into an agreement with an engineering firm to undertake a study
to identify the requirements related to expansion. The project would result in
the Montpelier facility increasing its capacity to as much as 2.1 million
finished tons per year.
“SSAB Americas is constantly reviewing opportunities to continue to grow in the
plate market throughout the Americas and to support the growing needs of our
customers,” said Jeff Moskaluk, Chief Commercial Officer, SSAB Americas. “The
Montpelier expansion is expected to support growth in both as rolled plate and
heat treated plate products.”
The engineering study will include: equipment specifications and requirements,
infrastructure needs including power and transportation, permitting and
compliance requirements, and investment incentives and opportunities. SSAB
recognizes the need for appropriate licensing and permitting to be in place
prior to moving forward with any equipment modification or construction, and
those approvals will be pursued at the appropriate time. The preliminary study
is expected to be completed in July 2014.
A potential investment proposal for the expansion is expected to be presented to
the SSAB´s Board of Directors during the fall and then follow an accelerated
timeline if approved.
Andreas Koch, Director Investor Relations, +46 70 509 77 61,
Andie Drobnik, Manager Communications SSAB Americas, +1 630 810 4774,
Marie Elfstrand, Director External Communications, +46 8 45 45 734,
SSAB is a global leader in value added, high strength steel. SSAB offers
products developed in close cooperation with its customers to create a stronger,
lighter and more sustainable world.SSAB has employees in over 45 countries and
operates production facilities in Sweden and the US. SSAB is listed on the
NASDAQ OMX Nordic Exchange, Stockholm. www.ssab.com
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