Regulatory press releases
Swedish steelmaker SSAB set to take new shares of the growing Chinese market
May 12, 2010 11:00 CET 6 min read
Swedish steel manufacturer SSAB is planning to further expand its business on the Chinese market. On May 13 and 14, SSAB CEO Olof Faxander and Asia Pacific president Martin Pei will share their views on the development of the Chinese market during the SSAB VIP Days at the Swedish pavilion at World Expo 2010.
SSAB is set to expand its operations in mainland China. The Asian market, of which China represents a major part, is expected to account for 20 percent of SSAB’s total output of niche products by 2015, compared to 7 percent 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 is now engaged in further strengthening its organization in mainland China by 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,” says SSAB CEO Olof Faxander. There is strong demand for SSAB’s high strength steel from the booming Chinese heavy machinery and automotive industries. The Hardox, Weldox, Docol and Domex steels allows manufacturers to create stronger, lighter and more durable products. “SSAB has the products and knowledge to build a much stronger position in China and the rest of Asia. Our approach to knowledge sharing has proven to be very successful. We provide our clients not only with material; our focus on customer care and support is just as important . We want to help our clients push the envelope as regards what is possible,” says Asia Pacific president Martin Pei. During the May 13 and 14 event, Olof Faxander and Martin Pei will be joined by technical experts from SSAB. At several technical seminars, they will provide information about the latest innovations from SSAB and what they can mean for Chinese producers in various industries. “SSAB fits perfectly into the overall theme of the Swedish pavilion – Spirit of Innovation. It is thanks to our inventive prowess and endeavors to always improve our products that we have been able to succeed in business for more than three decades,” says Olof Faxander.