Sweden-based steelmaker Ovako has announced that it will modernize its heavy bar mill at its Imatra site in Finland with an investment of €15 million, to improve its competitiveness and the quality and production efficiency of large dimension round and square bars. This marks the largest investment in the Imatra plant in 30 years.
With the modernization, which will increase the plant’s annual production by 16,000 mt, the first and second rolling stands of the heavy bar mill will be upgraded. The new equipment will increase productivity and quality.
Preparatory work for the investment will be done during the maintenance break of the upcoming summer. The main equipment installations and commissioning of the new power lines will be carried out during the maintenance break in summer 2025.
Currently, the Imatra plant has an annual production capacity of 575,000 mt.