Ovako invests 15 million euros in Imatra Steel Mill

With the investment, Ovako modernizes the heavy bar mill of the Imatra site. This marks the largest investment in the Imatra mill in 30 years. As a result, the mill's production capacity will increase by 16,000 tons per year.

The investment is an upgrade of the first and second rolling stand of the heavy bar mill and includes new transformers, motor drives, motors, and mechanical power lines.  

The investment is significant not only for Ovako but also for Imatra and the entire South Karelia economic area, as it also will support employment for local and regional contractors. 

"This investment decision further improves our competitiveness, emphasizes stability and strengthens our position as a world leader of carbon-neutral steel," says Klaus Enwald, President of the Imatra mill. 

The first and second rolling stands of the heavy bar mill are critical parts of the manufacturing process: they roll hot blooms into billets for the medium bar mill, as well as large dimension round and square bars for direct delivery to customers. Thanks to the new motors and gearboxes, the manufacturing and cost efficiency, as well as the maintenance reliability of the heavy bar mill will improve. 

“The new equipment will increase productivity and quality and at the same time, further improve safety," says Kari Välimaa, Director of the Product Unit Steel and Rolling. 

Preparatory work for the investment will be done during the maintenance break of the upcoming summer. The main equipment installations and commissioning of the new power lines will be carried out during the maintenance break in summer 2025.  

The Imatra mill aims to improve especially the quality and production efficiency of large dimension round and square bars supplied for demanding applications. 

"At our mill, we produce high-quality steels, and by enhancing the capabilities of our rolling mills, we can offer our products to an even larger customer base," Välimaa explains. 

For more information, please contact: 

Klaus Enwald, klaus.enwald@ovako.com, p. +358 40 520 9482