Stockholm, Sweden-based SSAB announced Tuesday a $11 million dollar investment plan to open a new Research and Development facility located adjacent to the SSAB steel mill in Montpelier, Iowa.
President and CEO of SSAB, Olof Faxander commented that the new facility "will improve our ability to service our customers further. As we respond to our customers' increasing demands to address new technical challenges and product development, we solidify our position as a world leader in the supply of advanced high strength steels."
"The expansion of SSAB and the opening of this facility are testimony to the potential for growth for our steels," said SSAB Americas' President David Britten. "This facility symbolizes the deep roots we've planted in this community and we appreciate the support of our community stakeholders, the Iowa Department of Economic Development and the Muscatine County Board of Supervisors. With the opening of this facility, SSAB will continue to strengthen its position as a global leader in high strength steel."