Sweden-based steelmaker Ovako has announced that it has signed a partnership deal with the Netherlands-based premium wire rod manufacturer FNsteel to boost low carbon production of high value-added wire rod in Europe. The deal will last for a minimum of two years, commencing in 2025.
The partnership will see Ovako’s Smedjebacken mill managing the production flow of the low carbon-footprint steel raw material used by FNsteel to manufacture premium wire rod. The low carbon and high value-added wire rod to be produced will be supplied to the automotive, construction and engineering sectors in Europe.
Ovako emerged as the ideal partner for this partnership as the steel it produces has an 80 percent lower carbon footprint compared to the global average.
