SSAB invests SEK 5.3 billion to substantially increase the volume of quenched and tempered steels

SSAB invests SEK 5.3 billion to substantially increase the volume of quenched
and tempered steels

To meet increasingly strong global demand for quenched and tempered (Q&T)
steels, SSAB today announced a SEK 5.3 billion investment program to further
develop the company's production base in Sweden and the United States. The
investments will result in a major increase of the volume of Q&T steels.

“This shows that we have a firm belief in the future. The investment program is
part of SSAB's strategic focus to strengthen the product portfolio towards more
value added steel products, and to further meet customers' growing demand for
quenched and tempered steels. This enables us to continue to develop our strong
production base and to further strengthen our position as a leading global
supplier of Q&T steels. More value added steel products are expected to lead to
higher earnings stability and generate economic returns well above the group's
long term targets”, says Olof Faxander, CEO of SSAB.

Global demand for Q&T steels has demonstrated strong growth in recent years. Q&T
plate and strip are used throughout the manufacturing and construction sectors
in applications where properties such as strength, hardness and toughness are
required beyond those available within commercial grades. SSAB's product
offering provides significant economic and environmental advantages compared to
less advanced steels.

The program consists of investments in the United States and at the Swedish
sites Borlänge and Oxelösund and includes the following projects:

•	Establishing a new fully integrated heat treating line for Q&T steel plate in
the United States (see press release April 23, 2008). Location of the new line,
at one of SSAB's two plate mills in Montpelier, Iowa or Mobile, Alabama has yet
to be determined and will be based on consideration of site-specific issues,
including regulatory approvals. The capacity of the new line will be 300,000
tonnes. In addition to the new quenching line there will be upgrades in the US
facilities to capture certain synergies announced at the time of the acquisition
of IPSCO. 

•	Establishing quenching capacity for production of Q&T strip steels, including
a new cut to length facility in Borlänge. The aim is to fully utilize the
competitive strengths of the hot strip mill and, in parallel, to leverage SSAB's
high end-user application know-how. Through thise investment, Borlänge will have
the ability to produce quenched strip products. The initial target is to supply
the market with a volume of  300,000 tonnes, with possibilities for further
development.

•	Downstream and de-bottlenecking investments at the Oxelösund site to further
develop the highly specialized production system at Oxelösund which will further
strengthen SSAB's leading position within Q&T plate. The Q&T steel volume in
Oxelösund will increase by 80,000 tonnes once the investment program is
completed.

The expansion program will be commissioned in phases and be completed in 2012.
The investments are expected to be financed through internally generated cash
flow.


SSAB, a global niche producer of high strength steels with a leading market
position and productivity, develops solutions in order to increase the
competitiveness of its customers.

For further information, please contact: 
Helena Stålnert, Executive Vice President, Communications 		Phone: +46 8 45 45
734
Catarina Ihre, Investor Relations					Phone: +46 8 45 45 729