The Italian steel producer will invest EUR 100 million to double the production of stainless steel bar and coil at its Swedish plant. Currently producing approximately 60,000 tons of coil annually, the investment aims to significantly increase production capacity to 120,000 tons per year.
The company stated, “This strategic investment will expand our product range to include stainless steel coils, bars, and rolled billets.” They added, “The project, planned for completion within the next few years, will position Fagersta Stainless for continued growth, efficiency, and sustainability in the global stainless steel long products market.”
The investment is highlighted as crucial to achieving Fagersta Stainless’ growth targets in the global stainless steel market, enhancing the plant's sustainability and efficiency. It's considered a significant step in line with the company's long-term strategic goals.
Italian steel giant Marcegaglia acquired the Fagersta plant in 2023, taking over Outokumpu's stainless steel operations. Employing approximately 250 people and generating annual revenue of around EUR 160 million, Fagersta Stainless represents a significant addition to Marcegaglia's portfolio.
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