Ovako invests to meet demand from the energy sector
Ovako is investing EUR 7.5 million in Hofors to meet demand from the energy sector, particularly in wind power. The initiative is part of a previously announced investment programme aimed at developing Ovako in Hofors in advanced applications for clean steel.Ovako's ring mill in Hofors is one of the world's leading suppliers of large steel rings for advanced applications. One important application is for large ball bearing races, used mainly for wind turbines. The transition to a more climate-neutral energy system means that the market outlook is positive, and wind turbines are becoming