Ovako is investing to enhance competitiveness

Ovako has decided to invest in a new continuous casting machine at the steel mill in Smedjebacken. The initiative provides an opportunity to continue to develop the product quality and size range and is an important step in the development of the Group's customer offering. 

As part of Ovako's strategic focus on growth, a decision was made to invest in a new continuous casting machine at the steel mill in Smedjebacken. This investment will increase the focus on quality and broaden the product offering to create new market opportunities, especially in Europe. The existing continuous casting will be replaced over the next two years. In addition, adjustments will be made in the rolling mills. The total investment is expected to amount to approximately EUR 15 million.

"This investment is very important for the future development of Ovako in Smedjebacken-Boxholm, and creates a stable platform for growth" says Rickard Qvarfort, President of Business Area Bar SmeBox. 

For additional information, please contact:

Viktoria Karsberg, Head of Group Communications, +46 70 209 93 96

Rickard Qvarfort, President of Business Area Bar SmeBox, + 46 240 66 80

Ovako is a leading European producer of engineering steel for customers in the bearing, transportation and engineering industries. Our production covers low-alloy steels and carbon steels in the form of bars, tubes, rings and pre-components. The company has production plants in 11 locations and a number of sales companies in Europe and the USA. Net sales in 2012 amounted to EUR 937 million and the company had 3,040 employees. Our total production capacity is 1.3 million tonnes of steel per year.