Ovako is a leading producer of clean, high-quality engineering steel for the bearing, transport, and manufacturing industries. Made from 97% recycled material, our steel enables strong and lightweight solutions with a world leading low carbon footprint. With about (over) 2,700 employees and sales of EUR 1.0 billion, Ovako operates in over 30 countries. The company is a subsidiary of Sanyo Special Steel and part of Nippon Steel Corporation, one of the world’s largest steel producers. Our purpose: Together we create steel for a decarbonized society.
Director and Head of Group Communications
This is a positive next step for our customers in Finland. Through Tibnor, customers will benefit from a strengthened distribution setup with greater scale, an expanded product range and strong local presence. We are confident that this will create long‑term benefits and continue to deliver great value to our customers.”
This is a positive next step for our customers in Finland. Through Tibnor, customers will benefit from a strengthened distribution setup with greater scale, an expanded product range and strong local presence. We are confident that this will create long‑term benefits and continue to deliver great value to our customers.”
Daniel embodies the qualities that drive Ovako: strength built over time, precision in every detail and the determination to keep improving. His mindset resonates deeply with our ambitions as a company. We are excited to begin this partnership and to share a journey focused on performance, innovation and long‑term success
Ovako’s values and Nordic roots feel very close to my own. Their focus on skill, continuous improvement and a strive for excellence is exactly what high‑level performance requires. I’m proud to represent a company that shares my drive and ambition, and I look forward to the journey ahead together
This step reflects our strategy to focus on our core business while ensuring that customers in Finland continue to benefit from a stronger offering under Tibnor’s leadership
This acquisition strengthens Tibnor’s position as a full-range distributor in Finland and deepens our partnership with Ovako
Swedish steel has made great progress in reducing emissions, but the real challenge is global.
With Stålverket, we want to open up the world of steel – to show not only how advanced and innovative our industry is, but also how it connects to society at large.
We’re just at the beginning of our AI journey, but now we know where and how to move forward. This program has built a long-lasting impact for our leadership team and it’s now easier to push the different use cases forward.
It's been inspiring to be a part of Ovako Imatra’s journey from the initial excitement to concretizing the applications for AI. In a short time, the team has made remarkable progress and now has a clear direction for how to continue integrating AI into their business operations.
It’s a real joy to see how our people connect – this time by sharing their special summer moments with each other
By bringing together production technology, IT and purchasing into one joint function, we strengthen our ability to execute on strategic priorities and improve efficiency across Ovako. This is an important step to position the company for the future
Ovako’s FY2024 Sustainability Report reflects our unwavering focus on safety, sustainability, and collaboration.
I’m very pleased to welcome Larisa to Ovako. She brings a valuable combination of international perspective, strategic thinking, and hands-on leadership experience from both BillerudKorsnäs and Bruks Siwertell. As we continue to grow and strengthen our customer relationships in a highly competitive global market. Larisa’s leadership will play a key role in helping us deliver our commercial goals and long-term strategy. I look forward to working closely with her as we take our sales organization to the next level
This is a big day for Ovako and the entire region. With this investment, we are taking concrete steps to reduce the climate impact of the industry and move towards more sustainable steel production. At the same time, we ensure that we can deliver high-quality steel with the lowest possible carbon footprint.
This investment reinforces our position as a leader in Bright Bar production. It ensures we remain competitive while opening new opportunities for growth
Working at Ovako is like a hidden gem. We offer an innovative work environment, fantastic development opportunities, and a strong focus on sustainability. Through the podcast, we want to communicate these values while giving insight into the unique life of an engineer at our steel plants.
Stålverket offers engineering students a rare opportunity to get to know our employees a little better and truly understand why Ovako is a place where they can build their careers – all while contributing to a sustainable future.
This investment underscores our commitment to maintaining the highest standards of efficiency and sustainability in our operations. The new STATCOM system will not only meet today's stringent requirements but also enhance our productivity and reduce energy consumption
We are pleased and proud to be trusted again by Ovako to deliver our proven advanced SVC Light® STATCOM technology that will contribute to and ensure increased stability and reliability in the steel mill production at Smedjebacken
At Ovako, we are committed to making a positive impact on the world. Our sustainability report reflects our ongoing efforts to create a more sustainable and responsible future, and we are excited to continue this journey with our stakeholders
By intensifying our partnership with Ovako, we are advancing our ongoing improvement work for sustainability in the fitness and weightlifting equipment industry. Together, we are pushing the boundaries of what is possible in terms of environmental stewardship and product quality
Our longstanding relationship with Eleiko is built on a shared vision for sustainability and excellence. This enhanced collaboration is a testament to our dedication to developing leading carbon-efficient steel solutions that not only meet but exceed our sustainability goals
This investment decision further improves our competitiveness, emphasizes stability and strengthens our position as a world leader of carbon-neutral steel
The new equipment will increase productivity and quality and at the same time, further improve safety
After an extensive period of joint testing and quality assurance measures, we are confident that Smedjebacken is well-equipped to supply FNsteel with substantial volumes of the highest quality.
Our commitment to sustainability is unwavering. This partnership with Ovako is an exciting milestone on our journey, which will allow us to produce low embodied carbon wire rod products from our processing facility. FNsteel is proud to take this step towards a more sustainable future.
Our partnership with Ovako reflects our dedication to reducing carbon footprint across our supply chain. Together with our partners we work continuously for a better tomorrow and to be the natural choice for steel and metals.
This campaign is a fantastic opportunity to showcase the spirit this company embodies, because Ovako is a fantastic place to develop yourself as well as creating impact from day one. We hope this will provide the visibility that allows us to elaborate on how you can be a part of a decarbonized future
Our aim is to attract talented people who dare to think differently and challenge the status quo. We hope that this campaign will stand out and attract more graduate students and make Ovako more visible”
Today is a proud moment for me and everyone at Ovako. Here, we are showcasing the path to achieving fossil-free industrial high-temperature heat. It's fantastic to see visitors from all over the world here in Hofors. We look forward to sharing our experiences and assisting other stakeholders in reducing their emissions.
The Sustainability report proves Ovako's ongoing commitment to leading the way in the transition towards a sustainable society. It reaffirms our dedicated work to reach our climate targets and supplying steel products based on carbon neutral production. I believe teamwork makes the dream work. By collaborating closely with multiple partners to pursue common goals, we can accomplish significantly more, and I take immense pride in our collective achievements!
– I would like to emphasize the importance of collaborative efforts that transcend industry boundaries and prioritize solutions yielding substantial and immediate climate benefits.
-There is a lot of work behind this and we, together with our partners, are extremely happy that the hydrogen plant will soon be in operation. It is an important step for the climate and for Ovakos journey towards zero emissions,
To stretch our efforts even further we have decided to take up the challenge and join in the Polestar 0 project, committed to collaborate on the Polestar moon-shot goal to produce a truly climate-neutral car by 2030,
The industry’s journey towards net zero bearing production is accelerating and this milestone illustrates both our leading position and the importance of collaboration. Ovako and SKF have a long history together and this is yet another tangible example of how we are working towards more circular industrial development,
In 2016 we made great progress with Ovako’s restructuring program and the group delivered increased sales volumes and an operating result that was significantly improved over the previous year. Despite the fact that Ovako’s financial performance is still not satisfactory and much work remains, I can say that Ovako is well positioned to face future challenges
Although there is still a lot of uncertainty about the long-term development for the industry, we are pleased to see that the positive trend we saw at the end of 2016 has continued into 2017
These investments in Hofors mean we can now double the format of some of our ingots, from 4.2 tons to 8.4 tons, allowing us to remain relevant, grow and take market share in an industry of the future. The program is also a preparation for the potential to handle even larger formats, making it an investment for the future
Ovako demonstrated clear operational and financial improvements in 2016. We made great progress in the restructuring program that began just over a year ago, and we delivered increased sales volumes and operating results that were considerably better than in the previous year. Overall, this gave results in most areas for the full-year that were much better than in the previous year. Despite this our financial results are still not satisfactory and much work remains for us on the road to becoming one of the world’s most successful steel companies
The second quarter of 2016 was characterized by increased demand. Order intake strengthened further, and was 12 percent better than in the corresponding period of the previous year.
We are reinforcing the program as a proactive way of meeting the current market conditions and securing the future success of Ovako. We will use all our resources to manage personnel redundancies in a responsible way
Ovako has continued to develop its operations in the first quarter 2016 in order to compete more effectively in the challenging global market. Low industrial activity and increased imports into Europe put additional demands on Ovako's activities in both production and sales.
I would like to welcome Johan to Ovako, where he will contribute with his broad financial and managerial experience from international business, and support Ovako in its future success
We have plenty to be proud of, even though the market is challenging. We offer clean steel, we are a world leader in a number of product areas, and we are contributing to a more sustainable society and a cleaner world
2015 was a challenging year, and the weak demand that marked the year continued into the fourth quarter. However, in the fourth quarter, order intake increased by 3 percent compared to the previous year.
I would like to thank Finn and Björn for their commitment and important contribution in the board supporting the strategic repositioning of Ovako
I am delighted to get the trust to take on this challenge. We have developed a clear strategy based on technological leadership, strong customer focus and operational efficiency. A key effort the coming years is to implement our restructuring program, where the focus lies on increased cost efficiency and productivity. The challenges in an international and very competitive environment are many; I am convinced that Ovako has a very good potential and capability of succeeding.
We wish to thank Tom Erixon for his contribution of several years of strong leadership in turbulent times. Senior and competent management teams have been recruited to the local sites. Furthermore Ovako has strengthened the product development and marketing towards our customers as well as expanded the sale organizations in Europe and Asia. Important measures to increase efficiency have also been taken. The Board of Directors fully supports the initiated restructuring program that was launched recently and wishes Tom Erixon further success in his new position.
The third quarter was challenging for Ovako, with a significantly worse business climate than in the first half. Despite this, the sales volume was slightly better than in the same quarter last year.
