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SSAB Set to Expand Business in Chinese Market
05/13/2010 - SSAB plans to further expand its operations in mainland China. The company expects the Asian market to account for 20% of its total output of niche products by 2015, compared to 7% in 2008.
Swedish steel manufacturer SSAB is planning to further expand its operations in mainland China. SSAB CEO Olof Faxander and Asia Pacific President Martin Pei share their views on the expansion during the World Expo 2010.
SSAB notes that the Asian market is expected to account for 20% of its total output of niche products by 2015, compared to 7% in 2008.
A new investment in a finishing line in Kunshan will improve delivery performance, shorten lead times, and provide value-added service to Chinese customers, SSAB says. The company is also recruiting local talent.
“There is no doubt in my mind that China will drive global demand for steel in the future. China is an increasingly important market for SSAB and we honor our long-standing commitment to China by expanding our local organization and continuing to invest,” said Faxander.
SSAB says there is strong demand for its high-strength steel from the Chinese heavy machinery and automotive industries.
A new investment in a finishing line in Kunshan will improve delivery performance, shorten lead times, and provide value-added service to Chinese customers, SSAB says. The company is also recruiting local talent.
“There is no doubt in my mind that China will drive global demand for steel in the future. China is an increasingly important market for SSAB and we honor our long-standing commitment to China by expanding our local organization and continuing to invest,” said Faxander.
SSAB says there is strong demand for its high-strength steel from the Chinese heavy machinery and automotive industries.
SSAB is a global leader in value-added, high-strength steel. It employs 8700 people in over 45 countries around the world and operates production facilities in Sweden and the U.S.
