Sweden-based steelmaker SSAB has announced that it has decided to invest SEK 3.3 billion ($351 million) in a new quenching and tempering line at its Oxelösund site, as part of its strategy to accelerate premium leadership in advanced steels.
The new quenching line will be essential for SSAB’s ability to grow in advanced wear steels and protection steels. The investment, estimated at SEK 3.3 billion over four years, is included in the strategic capital expenditure framework presented at SSAB’s Capital Markets Day in 2025. Production start is planned for 2030. According to SSAB, the investment will expand the capacity of SSAB Special Steels’ most profitable products and is expected to generate an attractive financial return.
“The demand for protection steel is growing globally and SSAB’s unique offerings give us a leadership position with customers in the defense industry. In addition, growth continues to be strong also for other advanced steels, including wear steels. This new quenching line will initially add around 100 thousand tonnes in capacity enabling us to serve the most advanced customer needs,” said Per Elfgren, head of SSAB Special Steels.