Steel Mills
October 2, 2014
SSAB Looks to Recapture Global Position, Increase US Capacity
Written by Sandy Williams
SSAB, following its successful merger with Finnish steelmaker Rautaruukki, expects to reduce its annual cost base by SEK 1.4 billion ($194.7 million) over a three year period. In addition to cost synergies, SSAB expects to free up cash flow in the amount of SEK 500 million ($69.5 million)—half of it during 2015. The savings may lead to an increase in steel capacity in the USA.
“Looking ahead, there are many possibilities to continue work on developing the new company. This includes increasing the presence in the emerging markets, expanding value-added end-user services and aftermarket operations and increasing capacity in the USA,” said a statement in SSAB’s announcement of Capital Market Day.
