SSAB, a global producer of high-strength steel headquartered in Sweden, plans to construct a research and development facility adjacent to its Montpelier, Iowa, steel facility. SSAB expects the new facility to enhance the company’s ability to service its customers and operations in both the United States and Canada. The $11 million investment will comprise a new building and a variety of specialized testing, simulation and metallographic equipment. Construction is scheduled to begin in early 2009, and operations are expected to begin in the third quarter of 2009.
According to SSAB, the lab’s establishment is an important step to strengthen the company’s position as a global leader in value-added steel, especially quenched and tempered and rolled, heavy plate products. The department will be staffed by 13 full-time employees.