Ovako is investing to enhance competitiveness
Ovako has decided to invest in a new continuous casting machine at the steel mill in Smedjebacken. The initiative provides an opportunity to continue to develop the product quality and size range and is an important step in the development of the Group's customer offering.
As part of Ovako's strategic focus on growth, a decision was made to invest in a new continuous casting machine at the steel mill in Smedjebacken. This investment will increase the focus on quality and broaden the product offering to create new market opportunities, especially in Europe. The existing continuous casting will be replaced over the next two years. In addition, adjustments will be made in the rolling mills. The total investment is expected to amount to approximately EUR 15 million.
"This investment is very important for the future development of Ovako in Smedjebacken-Boxholm, and creates a stable platform for growth" says Rickard Qvarfort, President of Business Area Bar SmeBox.