SSAB announced an investment program to further develop the company’s production base in the United States and Sweden. The investments will result in a major capacity increase for quenched and tempered (Q&T) steels. SSAB will install a new fully integrated heat-treating line for Q&T steel plate at one its two U.S. plate mills – either in Montpelier, Iowa, or Mobile, Ala. The new line will have an annual capacity of 300,000 metric tons. The expansion program, which includes projects at two Swedish sites, is to be completed in 2012.
SSAB also plans upgrades in both U.S. facilities to capture certain synergies announced at the time of the acquisition of IPSCO. 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.