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SSAB AB (SSABb.ST)

SSABb.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Jacquet Metal Service Considers Sale Of Abraservice Group
Friday, 28 Jun 2019 

June 28 (Reuters) - JACQUET METAL SERVICE SA ::JACQUET METAL SERVICE CONSIDERS THE SALE OF THE ABRASERVICE GROUP.ABRASERVICE HAS GENERATED 78 MILLION EUROS IN REVENUES FOR FISCAL YEAR 2018.JACQUET METAL SERVICE HAS GRANTED AN EXCLUSIVITY TO SSAB AND ABRASERVICE FRANCE INITIATED INFORMATION AND CONSULTATION PROCEDURE OF ITS EMPLOYEES' REPRESENTATIVE.JACQUET METAL SERVICE RECEIVED FIRM OFFER FROM SSAB FOR ACQUISITION OF ITS SUBSIDIARY ABRASERVICE HOLDING.  Full Article

SSAB Issues Senior Unsecured Bonds Amounting To SEK 2.0 Bln
Tuesday, 18 Jun 2019 

June 18 (Reuters) - SSAB AB ::SSAB ISSUES NEW FIVE-YEAR SENIOR UNSECURED BONDS AMOUNTING TO SEK 2000 MILLION.HAS SUCCESSFULLY ISSUED SENIOR UNSECURED BONDS IN TOTAL AMOUNT OF SEK 2000M UNDER ITS EUR 2BN EMTN PROGRAMME.PROCEEDS WILL BE USED FOR GENERAL CORPORATE PURPOSES..NEW BONDS ARE DUE IN JUNE 2024 AND FIXED TRANCHE CARRIES A COUPON OF 2,75% AND FLOATING TRANCHE A COUPON OF 3MS+270BPS.TRANSACTION GENERATED STRONG INTEREST FROM INVESTORS AND ISSUE WAS OVERSUBSCRIBED..  Full Article

SSAB carries out repairs and brings forward maintenance at blast furnace 2 in Raahe
Monday, 4 Feb 2019 

Feb 4 (Reuters) - SSAB AB ::SSAB EUROPE CARRIES OUT REPAIRS AND BRINGS FORWARD MAINTENANCE WORK AT BLAST FURNACE 2 IN RAAHE.SAYS THIS MEANS THAT OPERATIONS AT BLAST FURNACE 2 WILL BE STOPPED FOR AROUND 8 WEEKS AND TOTAL COST IS ESTIMATED TO BE AROUND SEK 200 MILLION IN Q1 OF 2019.SAYS BACKGROUND IS MINOR BREAK OUT IN BLAST FURNACE 2 THAT OCCURRED ON JANUARY 22, WHEN SOME MOLTEN IRON LEAKED THROUGH HEARTH WALL FROM A HOLE.SAYS CONCLUSION FROM ANALYSIS IS NOW THAT, ASIDE OF REPAIRS, MAINTENANCE WORK PLANNED FOR SUMMER OF 2020 WILL BE BROUGHT FORWARD TO REDUCE RISK OF FURTHER DISRUPTIONS.SAYS PRODUCTION LOSS WILL PARTLY BE COMPENSATED BY OTHER BLAST FURNACES OF SSAB EUROPE AND BY BLAST FURNACES OF SSAB SPECIAL STEELS IN OXELÖSUND.SAYS NEGATIVE RESULT EFFECTS ARE MAINLY LOWER CAPACITY UTILIZATION AND INCREASED COST FOR LOGISTICS AND REPAIRS.SAYS AS PRODUCTION LOSS PARTLY WILL BE COMPENSATED, IMPACT ON SHIPMENTS DURING Q1 WILL BE LIMITED.  Full Article

Transformer Fire At SSAB Hameenlinna Mill
Tuesday, 12 Jun 2018 

June 12 (Reuters) - SSAB AB ::TRANSFORMER FIRE AT SSAB HÄMEENLINNA MILL.SAYS FIRE HAS BEEN EXTINGUISHED.SAYS A TRANSFORMER FIRE OCCURRED AT SSAB EUROPE HÄMEENLINNA MILL THIS AFTERNOON AND MILL WAS EVACUATED DUE TO SMOKE.SAYS THERE WERE NO INJURIES.SAYS ACCORDING TO A PRELIMINARY ESTIMATE, PRODUCTION WILL BE DOWN IN COLD ROLLING SECTION OF MILL FOR A FEW DAYS.SAYS GALVANIZED AND COLOR-COATED PRODUCTS WILL SOON BE ABLE TO BE PRODUCED AT A NORMAL SPEED, BUT COLD ROLLING WILL RUN AT A LIMITED CAPACITY INITIALLY.  Full Article

SSAB comments on impact of U.S. steel tariffs
Friday, 9 Mar 2018 

March 9 (Reuters) - SSAB AB ::US STEEL TARIFFS HAVE TWOFOLD IMPACT ON SSAB.SAYS OUR AMERICAS DIVISION HAS A PRODUCTION CAPACITY OF 2.4 MILLION TONS OF STEEL AT OUR US MILLS IN IOWA AND ALABAMA. THESE VOLUMES ARE EXCLUDED FROM THE TARIFFS.SAYS US STEEL PRODUCTION IS SUPPLEMENTED WITH SPECIAL, HIGH-STRENGTH PRODUCTS FROM SWEDEN AND FINLAND THAT ARE NOT PRODUCED IN OUR NORTH AMERICAN PRODUCT LINES. IN 2017, THESE EXPORTS TOTALED AROUND 250,000 TONNES.SAYS ‍WE WILL INVESTIGATE IMPACT TO OUR BUSINESS AND DISCUSS WITH OUR CUSTOMERS BEST WAY TO GO FORWARD GIVEN YESTERDAY'S ANNOUNCEMENT​.SAYS OUR NORDIC EXPORTS INTO THE US ARE TRADED FAIRLY, FOLLOWING ESTABLISHED INTERNATIONAL RULES OF TRADE, AND WE HAVE ENJOYED A POSITIVE TRADE RELATIONSHIP FOR MANY YEARS.SAYS WE THEREFORE WILL BE ENGAGING WITH US GOVERNMENT OFFICIALS TO ADVOCATE FOR THE PRESERVATION OF THIS IMPORTANT US-NORDIC TRADE RELATIONSHIP..SAYS IF EXEMPTIONS ARE NOT GRANTED, WE WILL CONTINUE TO EVALUATE ALL ASPECTS OF OUR AMERICAN BUSINESS – FROM PRICING AND INVESTMENTS TO LOGISTICS AND OPERATIONS – TO ENSURE OUR BUSINESS REMAINS PROFITABLE AND BEST POISED FOR FUTURE GROWTH.  Full Article

Finland's Solidium Trims Stake In SSAB
Thursday, 1 Feb 2018 

Feb 1 (Reuters) - Ssab Ab ::SOLIDIUM SAYS ‍HAS TODAY, 1 FEBRUARY 2018, PLACED 37 MILLION B SHARES IN SSAB IN AN ACCELERATED BOOKBUILT OFFERING TO INTERNATIONAL AND NORDIC INSTITUTIONAL INVESTORS AT A PRICE OF SEK 40 PER SHARE, RESULTING IN GROSS PROCEEDS OF SEK 1.48 BILLION​.SUCCESSFUL PLACEMENT BY SOLIDIUM OF SSAB SHARES.  Full Article

SSAB revises financial targets
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - SSAB::SSAB REVISES FINANCIAL TARGETS.SAYS ‍DIVIDENDS WILL CONSTITUTE 30-50% OF PROFIT AFTER TAX (EARLIER 50% OVER A BUSINESS CYCLE)​.SAYS ‍NET DEBT/EQUITY RATIO WILL NOT NORMALLY EXCEED 35% (EARLIER LONG-TERM RATIO OF 30%)​.SAYS ‍SSAB'S GOAL TO ACHIEVE INDUSTRY-LEADING PROFITABILITY REMAINS UNCHANGED.SAYS THIS IS DEFINED AS PROFITABILITY MEASURED AS THE HIGHEST EBITDA MARGIN AMONG THE FOLLOWING COMPARABLE PEERS; ARCELORMITTAL, AK STEEL, NUCOR, SALZGITTER, TATA STEEL EUROPE, THYSSENKRUPP AND US STEEL​.​.  Full Article

SSAB says reaches settlement for breakdown in Oxelosund‍​
Wednesday, 13 Dec 2017 

Dec 13 (Reuters) - Ssab Ab ::SAYS HAS REACHED A FINAL SETTLEMENT OF AROUND SEK 315 MILLION WITH INSURANCE COMPANY AND SUPPLIER IN COMPENSATION FOR BREAK DOWN THAT OCCURRED IN OXELÖSUND IN DECEMBER 2016​.SAYS ‍SETTLEMENT WILL HAVE A POSITIVE IMPACT OF AROUND SEK 265 MILLION ON RESULT FOR Q4 OF 2017​.  Full Article

SSAB to start using liquefied natural gas in Raahe mill
Monday, 27 Nov 2017 

Nov 27 (Reuters) - SSAB ::SSAB TO START USING LIQUEFIED NATURAL GAS IN RAAHE.  Full Article

SSAB Q3 operating profit tops forecast, sees stable Q4 shipments
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - SSAB AB :Q3 ‍sales were SEK 16,188 (13,477) million​.Q3 ‍operating profit was SEK 1,089 (707) million.Reuters poll: SSAB Q3 operating profit seen at SEK 961 million, sales at 15.6 billion​.SSAB says ‍underlying demand is considered to be at a good level, albeit with a seasonally weaker product mix during Q4​.Says overall, SSAB’s shipments during the fourth quarter are expected to be in line with those of the third quarter‍​.SSAB AB says ‍in North America, shipments increased during quarter​.Says it is anticipated that overall the prices realized by SSAB during the fourth quarter will be somewhat lower compared with prior quarter.Says this is attributable to SSAB Americas and to a seasonally weaker mix in SSAB Europe.SSAB says ‍market prices for heavy plate decreased during quarter and short-term outlook is somewhat uncertain.​.SSAB says ‍target to reduce net debt by SEK 10 billion between end of Q1 of 2016 and end of 2017 is progressing according to plan​.Says SSAB Europe will carry out planned maintenance outages during Q4, these outages are expected to have an impact of SEK 180 million (excluding lost margins) on earnings..Says in North America, demand for heavy plate is anticipated to be stable during the fourth quarter.Says in Europe, demand is expected to be good..  Full Article

Finland opens largest Nordic LNG terminal after delay

OSLO, June 11 Finland's 110 million-euro ($124.5 million) Manga liquefied natural gas import terminal has fully opened after a year-long delay to the project, engineering firm Wartsila and part-owner Gasum said on Tuesday.