IPSCO to be Acquired by SSAB
May 4, 2007
IPSCO Inc. and Sweden’s SSAB Svenskt Stal AB announced that they have entered into an agreement providing for IPSCO to be acquired by SSAB for $7.7 billion. The transaction has been approved by the Boards of Directors of both companies. Illinois-based IPSCO has about 4,400 employees and an annual steelmaking capacity of more than 4 million tons. It owns four steel mills, 11 pipe mills, and scrap processing centers and finishing facilities in the United States and Canada. SSAB has a leading European position in quenched and tempered heavy plate and EHS/UHS steel sheet.