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Liberty Steel Group makes an offer to acquire Thyssenkrupp Steel Europe

Liberty Steel Group, part of sustainable industry leader GFG Alliance, has today announced that it has made a non-binding indicative offer (NBIO) as part of a Thyssenkrupp-led process to acquire the steel activities of Thyssenkrupp. Liberty Steel is a global steel and mining business with annual revenues of about US$ 15 bn/ € 13 bn and 30,000 employees in more than 200 locations on four continents.

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Outokumpu – Change in Outokumpu’s Leadership Team

Outokumpu – Change in Outokumpu’s Leadership Team

Reeta Kaukiainen, Executive Vice President, Communications, Marketing and Investor Relations has decided to pursue her career outside Outokumpu. She will continue in her current role until the end of September. With this change, Outokumpu’s communications, marketing and IR will continue as separate functions within the Outokumpu organization.

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HYBRIT: SSAB, LKAB and Vattenfall to start up the world’s first pilot plant for fossil-free steel

Today, SSAB, LKAB and Vattenfall are taking a decisive step toward fossil-free steelmaking with the start-up of HYBRIT’s globally unique pilot plant for the production of fossil-free sponge iron. Swedish Prime Minister Stefan Löfven started up the plant together with Isabella Lövin, Minister for Environment and Climate and Deputy Prime Minister, Martin Lindqvist, President and CEO of SSAB, Jan Moström, President and CEO of LKAB and Magnus Hall, President and CEO of Vattenfall. SSAB, LKAB and Vattenfall aim to create a complete value chain for fossil-free steel.

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Outokumpu: Management changes

Maciej Gwozdz, President, business area Europe has decided to resign from Outokumpu to take a new position in another company. He will continue to work in Outokumpu in his current position until the end of September. His successor will be appointed in due course.

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SSAB: Actions taken due to the Covid-19 Situation

SSAB implements several short-term actions across the business to mitigate the effects of Covid-19 and the total annualized savings are estimated to exceed SEK 1 billion.

SSAB's annual general meeting (AGM) was held today, April 1, 2020, in Stockholm. The AGM resolved that no dividend will be paid for the financial year 2019.

During the first three months of the year the business has largely proceeded according to expectations. SSAB´s focus during the first quarter has been to reduce risks of spreading the Covid-19 virus, including measures to protect the health and safety of our personnel and at the same time sustaining operations.

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New Potential in Latin America

 

SSAB Special Steels is aiming for 1.35 million tonnes of shipments by 2020. Part of this will come from upgrading but expanding sales in emerging markets will also play an important role in achieving this aim. Latin America is one potential geographical area for growth. We want to maintain and strengthen our position as the global leader in wear, structural, protection and tool steels as well as in related value-added services.

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SSAB entering new North African Markets

SSAB has recently opened an office in Egypt and is working on establishing one in Algeria. Both countries offer great potential for new business opportunities, and the start in Egypt has been very good. There are also plans related to Western and Central Africa.

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The biggest Wheel Loader Bucket in China

 

XCMG, one of China’s biggest construction machinery manufacturers, is a long standing customer of SSAB. They recently manufactured the biggest wheel loader bucket in China, with a capacity of 17 m3. Use of Hardox plate and Strenx performance steel has increased the overall bucket lifetime by 70%.

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