With the support from the owners Sanyo Special Steel and Nippon Steel Corporation, Ovako continues to invest to further strengthen its position as a world leader in specialty steel.
In the last years, Ovako has invested over EUR 30 million in the Hofors – Hällefors rolling processes to secure and extend its leading position in the global market.
“Demand for specialty steel products is increasing, along with higher requirements for sustainability and flexibility. To meet the demands of our customers as well as further strengthening our competitiveness, we are continuing to develop our processes and invest in our facilities”, says Marcus Hedblom, President and CEO of Ovako.
The investment in Hällefors will contribute to reduced carbon emissions through modern rolling equipment, which means that the heating temperature can be reduced by up to 50 ⁰C. The investment will also ensure stable operations and quality, as well as improving productivity.
“I am pleased that we can now carry out this investment that will future-proof efficient and stable operation through modern rolling technology in our production flow”, says Rickard Qvarfort, President Business Unit Hofors Hellefors.
The plan is for installation of the four new rolling stands to take place in the summer of 2023.
About Ovako
Ovako develops high-tech steel solutions for, and in cooperation with, its customers in the bearing, transport and manufacturing industries. Our steel makes our customers’ end products more resilient and extends their useful life, ultimately resulting in smarter, more energy-efficient and more environmentally-friendly products.
Our production is based on recycled scrap and includes steel in the form of bar, tube, rings and pre-components. Ovako has around 2,800 employees in more than 30 countries and sales of approximately EUR 900 million. Ovako is a subsidiary of Sanyo Special Steel and a member of Nippon Steel Corporation group, one of the largest steel producers in the world with more than 100,000 employees globally and a revenue of approximately EUR 50 billion. For more information, please visit us at www.ovako.com, www.sanyo-steel.co.jp and www.nipponsteel.com.