In Sweden -- and gradually elsewhere too -- SSAB is another word for steel. The company has been a niche player in the European steel market, primarily manufacturing steel sheet and plates, but is hoping to grow out of that niche. Operations are carried out via subsidiaries SSAB Strip Products, SSAB Plates, and SSAB North America (steelworks); Plannja (processing); and Tibnor (trading). Founded in 1978, SSAB has grown beyond its Swedish borders with a presence in more than 40 countries worldwide; Sweden still accounts for a quarter of its sales, however. In 2007 the company made a big international move when it bought US steelmaker IPSCO (now the North American unit) for $7.7 billion.
The following year it sold IPSCO's North American tubular operations to Russian steel producers Evraz and TMK for $4 billion; it kept the bulk of IPSCO's operations, though. Prior to the IPSCO deal Europe had accounted for nearly 90% of SSAB's sales. Now, however, sales outside the continent amount to more than a third of total sales.
Martin Lindqvist was named CEO of SSAB in 2011. He replaced Olof Faxander, who resigned from the company. Lindqvist joined SSAB in 1998 and was previously head of its European division. – less