News and Press Releases

Erik has been appointed as the new CFO and EVP Group Finance, IT & Purchasing for Ovako Group.

On November 7, the Land and Environmental Court in Östersund approved and gave Ovako in Hofors the environmental permit to construct Sweden's largest electrolyzer for production of fossil-free hydrogen*. An important and long-awaited announcement, which will enable a significant reduction in CO2 emissions from the heating of steel. With this gratifying decision, the hydrogen plant will be in operation before the summer of 2023.

To meet the climate challenges and the ultimate goal of reaching zero carbon emissions, Ovako is partnering up in the Polestar 0 project, committed to collaborate on the company´s moon-shot goal to produce a climate-neutral car by 2030.

Nicholas Källsäter is appointed as new Business Unit President for Smedjebacken and Boxholm, replacing current president Göran Jansson, who is stepping down due to private reasons.

Stockholm, 8 September 2022: A significant milestone has been reached in Ovako´s sustainable journey towards zero carbon emissions. The bearing producer SKF has produced a Spherical Roller Bearing (SRB) with 90% less carbon emission than its standard SRB bearing using Ovako´s high quality bearing steel.

Ovako has today published the sustainability report for Financial Year 2021. The report shows that Ovako leads the development towards a sustainable society and is closing the loop with recycled steel from carbon neutral operations.

Ovako is investing EUR 7.3 million in the rolling mill in Hällefors to strengthen productivity and further reduce carbon emissions. Four new state-of-the-art rolling stands will be installed in the rolling mill.

Ovako has decided that the production flow Hofors Hällefors, which today is divided in two business units, will become one business unit, as of April 1, 2022. The purpose of the merger is to have a simplified and even more efficient organizational structure. This will increase customer value through a strengthened commercial organization and business offering.