SSAB
| SSAB Svenskt Stål AB
|
|
|---|---|
 |
|
| legal form | Aktiebolag |
| ISIN | SE0000171100 |
| founding | 1978 |
| Seat |
Stockholm , Sweden
|
| management | Martin Lindqvist (CEO) |
| Number of employees | 14,514 |
| sales | SEK 76.5 billion |
| Branch | Steel industry |
| Website | www.ssab.com |
| As of December 31, 2019 | |
SSAB AB (short for the previous name Svenskt Stål AB ) is a Swedish steel group and Scandinavia 's largest producer of unalloyed and low-alloy flat steels . SSAB is headquartered in Stockholm and has manufacturing facilities in Oxelösund , Luleå , Borlänge , Finspång , Raahe , Hämeenlinna , Mobile, Alabama and Montpelier, Iowa . In 2007, SSAB produced around 7.7 million tons of crude steel. There are blast furnaces in Raahe, Luleå and Oxelösund. The company's main products are thin sheet , manufactured by SSAB Tunnplåt in Borlänge and Luleå, and heavy plate, manufactured by SSAB Oxelösund . Other subsidiaries are Dickson Plåt Service Center (sheet metal cutting), Plannja (structural steel products) and Tibnor , SSAB's trading company. Martin Lindqvist has been CEO and CEO since 2011.
history
The steel crisis of the 1970s
The steel crisis of the 1970s triggered a restructuring in the Swedish steel industry. Domnarvets Järnverk had a complex production facility with a wide range of products and urgently needed to make new investments. The state-owned Norrbottens Järnverk AB (NJA) needed modernization and continued to make losses, and Gränges AB with Oxelösunds Järnverks AB was threatened with bankruptcy. The owners were not ready for any further financial aid and so the government at that time decided to intervene. The so-called Handelsstålsutredningen ( Handelsstålsutredningen ) was established and tasked with developing a plan for the necessary restructuring of the industry. Under the leadership of Lars Nabseth , the committee came to the conclusion that a merger of the steel companies into a state company was the only way to save the industry. The CEO of NJA, Björn Wahlström , was given the task of starting negotiations with the other companies.
Company formation
After a resolution by the Reichstag and long negotiations, Svenskt Stål-aktiebolag was founded at the end of 1977 and started operations on January 1, 1978. The steel works of Stora Kopparbergs Bergslags AB (mines and iron processing), Gränges AB (mines, iron processing and railway operations) and NJA (iron processing) were incorporated into the company. The old owners were involved in the new structure: the state-owned Statföretag AB with 50 percent and Gränges and Stora Kopparberg with 25 percent each. Björn Wahlström was appointed CEO. At that time, about 10,000 employees and workers were working in the newly founded company. Most of the mines that were taken over, most of them in Bergslagen , were shut down within a short period of time. Only the two mines Grängesbergs and Dannemora continued to operate for the time being. The railway company TGOJ was spun off in two steps in 1982 and 1989.
In the years that followed, numerous restructurings and plant closings took place. Investments focused on the profitable products and the best places. In 1982 the company went into profit for the first time. The shares of Stora Kopparbergs and Gränges were bought back in 1981 and 1986 respectively. In 1986, privatization was also initiated, which in 1989 led to listing on the stock exchange.
With the IPO, the company also faced competition from foreign competitors. A prerequisite for this was an improvement in the quality of sheet metal production in Borlänge, in order to keep the automobile manufacturers as customers, among other things. As a result, Sweden's largest investment in industrial goods at the time was made in Borlänge, the so-called Band 82 .
Establishment of SSAB Tunnplåt and SSAB Oxelösund
In 1987 a new strategic plan was drawn up in which the concentration on the production of thin sheet was agreed. Unprofitable production facilities should be closed as soon as possible and unprofitable product lines discontinued. In 1989 and 1992 the Grängesberg and Dannemore mines were then closed, as a further decline in the price of iron ore was forecast.
In 1988 SSAB was reorganized to its present form as the parent company with several subsidiaries. In order to use the synergies from metallurgy and sheet metal production, the plants in Borlänge and Luleå were combined in SSAB Tunnplåt AB . The plant in Oxelösund became SSAB Oxelösund AB . A third subsidiary was founded with SSAB Profiler , but later sold to Ovako Steel . Domnarvets elektrostålverk was closed in 1989 due to overcapacity .
At the same time as the reorganization, steel consumption grew in Western Europe and the shortage of steel made price increases possible. As a result, consolidated profit tripled within a year, and as a result, the owners took the group to the Stockholm Stock Exchange . By 1992 the Swedish state sold its remaining shares in SSAB.
Since 2000
2008, reached as steel prices peaked, SSAB sold its Canadian subsidiary IPSCO for 4 billion US dollars to Evraz (steel business) and TMK (Pipe shop).
In January 2014, SSAB announced that it would take over the Finnish company Rautaruukki for the equivalent of EUR 1.15 billion. On July 15, 2014, the European Commission gave its approval, subject to the condition that some company divisions were to be sold, and the takeover was completed on July 29, 2014. Since then, SSAB's shares have also been traded as a secondary listing on the Helsinki Stock Exchange. By November 20, 2014, SSAB had acquired all of Rautaruukki's shares.
Brands and products
SSAB's brands include:
- Hardox
- Strenx
- Docol
- GreenCoat
- Toolox
- Armox
- SSAB Boron
- SSAB Domex
- SSAB form
- SSAB laser
- SSAB Weathering
- SSAB Multisteel
- Hardox In My Body
- My Inner Strenx
- Hardox Wearparts
Individual evidence
- ^ Group Executive Committee
- ↑ a b c d Annual Report 2019 (PDF) SSAB, accessed on May 27, 2020
- ↑ Anual Report 2007. (PDF; 5 MB)
- ↑ Evraz to acquire IPSCO's Canadian plate and pipe business from SSAB for a net cost of $ 2.3 billion , March 14, 2008
- ↑ Alex MacDonald: Evraz Mull's IPO of North American Unit . In: Wall Street Journal . September 19, 2014 ( wsj.com ).
- ↑ Steelmaker SSAB to buy Nordic rival Rautaruukki for $ 1.6 billion , Reuters, January 22, 2014
- ↑ Merger control: Commission gives green light for takeover of Rautaruukki by competitor SSAB, subject to conditions , European Commission , July 15, 2014
- ↑ Ruukki & SSAB , ruukki.de, July 30, 2014
- ^ First trading day for SSAB shares on Nasdaq OMX Helsinki . SSAB, August 1, 2014
- ↑ SSAB AB (PUBL) has obtained ownership of all the shares in Rautaruukki Corporation and the shares will be delisted. Rautaruukki Corporation Stock Exchange Release, November 20, 2014