Ipsco to expand heat-treated steel capacity

By Tom Stundza -- Purchasing, 4/30/2008 11:48:00 AM

The Swedish parent company of Ipsco Steel plans to spend $150 million to $250 million, to build a heat-treating facility to make stronger steel at either its Montpelier, Iowa, or Mobile, Ala., steel mills.

The Muscatine Journal newspaper says a final decision will be made based upon site-specific issues such as regulatory approvals, attributing the information to a statement by Olof Faxander, chief executive of SSAB Svenskt Stål (Swedish Steel). “This is a step to further meet the strong and increasing global demand for quenched and tempered steels,” says Faxander. “The investment enables us to continue to develop the strong production base we now have in the U.S. This will strengthen our strategy to be the global leader in high-strength steel.”