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SSAB Opens New Research and Development Facility in Iowa, USA.

STOCKHOLM -- Today, SSAB (STO:SSABA) opens its new Research and Development Facility located adjacent to the SSAB steel mill in Montpelier, Iowa, USA. This $11 million investment supports SSAB's strategy to be a global leader in advanced steels.

The 25,000 sq. ft. facility houses some of the most cutting-edge testing, simulation and metallographic equipment in the world. A staff of thirteen SSAB research engineers and technicians provide their professional expertise to SSAB's global product and process development.

"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", says Olof Faxander, President and CEO SSAB.

"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."

Olof Faxander, President and CEO of SSAB and SSAB Americas' President David Britten, preside over the opening ceremony today together with Bret Mills, Director of the Iowa Department of Economic Development and Esther Dean, Chair of the Muscatine County Board of Supervisors.

SSAB is a global leader in value added, high strength steel. SSAB offers products developed in close cooperation with its customers to reach a stronger, lighter and more sustainable world.

SSAB employs 8,700 people in over 45 countries around the world and operates production facilities in Sweden and the US. SSAB is listed on the NASDAQ OMX Nordic Exchange, Stockholm.

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Publication:Business Wire
Article Type:Company overview
Geographic Code:4EUSW
Date:Oct 12, 2010
Words:379
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