Alleima expands its production capacity for the Industrial Heating segment in Japan
Alleima is increasing its capacity for electrical heating solutions in the Kanthal division, through an investment of approximately SEK 100 million in a new facility in Sakura, Japan.
The total investment of approximately SEK 100 million includes the development of a new facility near the Kanthal division’s current premises in Sakura, Japan. The expansion will increase production capacity of electrical heating solutions to the Industrial Heating segment in Japan by approximately 60%, with ramp up starting in 2025.
The global growth in lithium-ion batteries and semiconductors is a driver for an increased demand for Kanthal’s solutions for the Industrial Heating segment. In addition, a broad range of industries, such as steel and automotive, are looking to convert heating processes from fossil fuel to electric solutions, making the production more energy efficient whilst also lowering CO2 emissions. The aim is to capture mid- and long-term market growth in Asia.
“We invest in further capacity to cater to the growing demand of the Asian Industrial Heating customers. This investment aligns perfectly with our strategy for profitable growth”, says Göran Björkman, President and CEO of Alleima.
The investment will be carried out during a two-year period and capex guidance of approximately SEK 950 million for full year 2024 remains unchanged.
Sandviken, May 13, 2024
Alleima AB (publ)
Contact details
Emelie Alm, Head of Investor Relations
Emelie.alm@alleima.com
Phone: +46 (0) 79 060 87 17
Yvonne Edenholm, Press and Media Relations Manager
Yvonne.edenholm@alleima.com
Phone: +46 (0) 72 145 23 42
About Alleima
Alleima, is a global manufacturer of high value-added products in advanced stainless steels and special alloys as well as solutions for industrial heating. Based on long-term customer partnerships and leading materials technology, we develop products for the most demanding applications and industries. Our offering includes products like seamless steel tubes for the energy, chemical and aerospace industries, precision strip steel for white goods compressors, air conditioners and knife applications, based on more than 900 active alloy recipes. It also includes ultra-fine wires for medical and micro-electronic devices, industrial electric heating technology and coated strip steel for fuel cell technology for cars, trucks, and hydrogen production. Our fully integrated value chain, from R&D to end-product, ensures industry-leading technology, quality, sustainability, and circularity. Alleima, with headquarter in Sandviken, Sweden, had approximately 6,500 employees and revenues of about 21 billion SEK in about 80 countries in 2023. The Alleima share was listed on Nasdaq Stockholm’s Large Cap list on August 31, 2022 under the ticker ‘ALLEI’. Learn more at www.alleima.com.