Swedish steelmaker SSAB today hosted a Capital Markets Day in Stockholm where senior executives of the company provided delegates with an update on the company’s progress with its strategy execution. SSAB presented new targets for the Group’s growth initiatives, but its financial targets remain unchanged.
SSAB claimed that over the coming years it would strengthen its position in home markets – the Nordics and North America – as well as deliver on a number of growth initiatives.
SSAB Special Steels aims to grow by 35% and deliver 1.35Mt of high-strength steels by 2020. SSAB Europe aims to improve its product mix to 40% premium products, compared with 30% in 2016 and, as a part of this improvement, will aim to deliver 750kt of automotive premium products by 2020, compared to 442kt in 2016. SSAB Americas aims for a market share of 30% over time on the North American plate market.
“Our growth ambitions are focused on high-strength steels. Demand is growing structurally, driven by our customers’ need for higher productivity and performance, as well as more sustainable solutions. This will support improved profitability as these products bring high added value to customers and hence command a higher margin, compared to standard steels. In addition, we are engaging all employees across the group in our pursuit of continuous improvements, which will make us more efficient. All-in-all, I am confident of reaching industry-leading profitability,” said Martin Lindqvist, president and CEO of SSAB.
Leading management figures from SSAB made presentations, including Eva Pétursson, head of strategic R&D, who said that there were ‘substantial opportunities’ in the field of digital manufacturing, or Industry 4.0 as it is more commonly known.
Other speakers included Tony Harris, vice president of sales for SSAB Europe, and Chuck Schmitt, executive vice president and head of SSAB Americas.