STOCKHOLM--Swedish steel producer SSAB (SSAB-A.SK) said Thursday
it is looking into an expansion of its smelting facility in
Montpelier, Iowa, U.S, by up to 1.2 million metric tons above
current capacity to support growing demand.
"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 expansion of 1.2 million tons represents roughly an
additional 800,000 tons per year of finished product along with
400,000 tons of smelting capacity to be transferred as slab to
SSAB's mobile facility for rolling and finishing.
SSAB said it 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.
Shares closed at SEK53.85 Wednesday.
Write to Christina Zander at christina.zander@wsj.com
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