Swedish specialty steel producer SSAB has announced that it will invest about $74 million in its Alabama plant to increase its heat treatment capacity. As a result, it will be able to enhance its position in the US and to serve US customers with premium products.
Within the scope of the investment, the company will build an advanced tempering furnace and will improve the infrastructure of its plant, increasing its production capacity of high-strength steels under the brands Hardox and Strenx.
The construction of the new equipment will start this year, with its start-up scheduled for 2027.